In one of the leases, new-media advertising agency Ignited Mindssigned for 55,000 sf of space at 2221 Park Place in a 10-year,$17-million deal. The building is owned by Sandstone Properties,which was represented by principal Bob Safai and director Joe Kingof Madison Partners.

Ignited Minds was represented by Leonard Nadler, Robert Cavaiolaand Christopher Knapp of Studley. The Studley brokers point outthat Ignited Minds, which is doubling in size in its move to 2221Park Place, inherited existing tenant improvements that include30-foot high ceilings, open space areas, a 5,000-sf mezzanine levelwith a new kitchen, an employee lounge and a gaming area.

Market conditions allowed the agency, formerly located at 4499Glencoe Ave. in Marina del Rey, to negotiate a favorabletermination agreement with landlord Hanke Investments, the Studleybrokers say. They note that the move by the ad agency illustrateshow El Segundo is becoming a lower-cost alternative market forWestside tenants.