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LOS ANGELES-Office tenants have signed new leases for more than 132,000 square feet of space in West Los Angeles buildings, including more than 110,000 square feet at Equity Office Properties’ five-building, 1.2-million-square-foot Howard Hughes Center, according to Madison Partners, which was involved in all of the deals. The leases at the Hughes Center range from 2,250 square feet to 30,000 square feet and they illustrate that tenants looking for value in today’s market, according to principal Chris Houge of Madison Partners, who teamed with Madison principals Hunt Barnett and Rick Buckley and director Beau Rawi in representing Equity Office in the transactions. Equity Office was also represented internally by Brendan McCracken and Conan Cotrell in all of the leases.

In addition to the deals at the Hughes Center, the leases include a 22,000-square-foot commitment by Ground Zero advertising agency at 4235 Redwood Ave. in Marina Del Rey.

The largest of the Howard Hughes Center deals was a 30,000-square-foot, $5 million deal by Experian. The consumer and business credit reporting firm was represented by Rick Sherburne of Cushman & Wakefield.

In the next three largest deals at the Hughes Center, TV Guide signed for 25,000 square feet in a $2.5 million deal, Blockbuster signed for 12,000 square feet for $2.5 million and Qantas Airways inked a five-year extension for 11,755 square feet, valued at $2.1 million. TV Guide was represented by Eric Duncanson of Cushman & Wakefield, Blockbuster was represented by Mike DeSantis and John Doyle of Cushman & Wakefield, and Qantas was represented by Tony Morales, Jason Fine and Blake Searles of Jones Lang LaSalle.

Ground Zero’s deal at 4235 Redwood in Marina Del Rey was engineered by Madison Partners principal Brad Feld and director Travis Landrum, who represented the advertising agency in the five-year, $2.2 million lease renewal. Landrum notes that Ground Zero has occupied the building since 1998. He says that after exploring all of its relocation options throughout the Lower Westside–as well as the economics associated with the lease renewal–the advertising firm decided that it was not advantageous to relocate, and difficult to recreate the type of space Ground Zero had grown accustomed to on Redwood. The building owner in the Ground Zero lease, Bradmore Realty Co., was represented by Jeff Pion of CB Richard Ellis.

The remaining deals at the Hughes Center ranged from 2,250 square feet to 9,500 square feet. The tenants who signed included Integrated Data Corp., Sezmi Corp., Corbis Corp., Ricoh Americas, Matrix Environmental, business consultants Drake Beam Moran and the law firm of Brooks Kushman.

Integrated Data Corp. was represented by Eric Lastition of Colliers Seeley, Sezmi by Neil Resnick and Nicole Gregoire of Grubb & Ellis, Corbis by Steven Koksky of Newmark Knight Frank, Ricoh Americas by Madison Partners, Matrix Environmental by Nick Christianson of CB Richard Ellis, Drake Beam Moran by Madison Partners, and Brooks Kushman by Jennifer Resnick of First Property.

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