Thank you for sharing!

Your article was successfully shared with the contacts you provided.

[IMGCAP(1)]LOS ANGELES-Two office tenants have signed new leases for 95,000 square feet of space in two separate deals valued at a total of nearly $17 million. In a $14.4-million deal, the US General Services Administration signed a 72,210-square-foot deal at the City National Bank Building in Downtown L.A. for space that is occupied by the federal Executive Offices of Immigration Review. In the other lease, Crew Advertising signed for 23,000 square feet at 7966 Beverly Blvd. in a deal valued at approximately $2.3 million.

The Executive Offices of Immigration Review’s lease represents an expansion of approximately 13,000 square feet at the City National Bank Building at 606 S. Olive St., according to John Anthony of Charles Dunn Co., who represented both the GSA and the landlord, 606 S. Olive LLC. The six-year lease will include one full floor of expansion space in addition to four and a half floors of existing space.

[IMGCAP(2)]Anthony notes that the federal government is one of the few sectors in the office market that has shown growth in 2009. He says that Dunn’s continuous work with the GSA and the various federal agencies “has allowed us to be familiar with how to meet the stringent requirements and effectively complete lease transactions at a variety of different projects.” He says the EOIR is expected to occupy all of its new space by October.

The EOIR is an office of the US Department of Justice and is responsible for adjudicating immigration cases in the US. The EOIR oversees immigration courts through the Office of the Chief Immigration Judge. Additionally, the Board of Immigration Appeals, which hears appeals from immigration courts, is part of the EOIR.

In the Crew Advertising lease, Dean Heck of Beitler Commercial Realty Services tells GlobeSt.com that the ad agency has relocated to the three-story office building at 7966 Beverly Blvd. in a move from 62,000 square feet at Wilshire Courtyard at 5750 Wilshire Blvd., where Crew had been for about a year and a half. Heck and Robert Gray of Beitler represented the ad agency, with Michael Freiberg of First Property representing the building owner, locally based SBE.

Heck says that the three-year lease included furniture as part of the deal, with the tenant agreeing to pay for its own electric and janitorial costs. Crew has already moved into the building in what Heck describes as a “plug-and-play” deal that provided space that was ready for the ad agency to move in without additional tenant improvements.

Heck notes that Crew signed the new lease after emerging from Chapter 11 bankruptcy. “The new lease is in first position, and the company was funded by its banker throughout the bankruptcy, so this was a tenant that a lot of buildings wanted,” he adds.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.