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[IMGCAP(1)]SANTA MONICA, CA-Direct response TV specialist Guthy-Renker has expanded by 5,000 square feet in a new 70,000-square-foot office lease here at 3340 Ocean Park Blvd., one of three new recently signed office leases on the Westside. The others were a 50,435-square-foot lease by Sony Corp. in the Howard Hughes Center at 6080 Center Drive West and a 25,362-square-foot deal by the law firm of Gipson, Hoffman & Pancione at 1901 Avenue of the Stars in Century City.

Guthy-Renker’s lease is a renewal and is valued at approximately $14 million, according to Studley, which represented the firm in its lease with landlord Equity Office Properties. Studley’s Bruce Schuman, senior vice president, and Mike Catalano, executive vice president, represented the direct response TV firm in the deal, with EOP represented internally by Gail Goldstein.

Schuman says that the Guthy-Renker renewal transaction provided the lowest cost, additional opportunities for expansion, and allowed the tenant to meet the company’s growth needs without any disruption to ongoing business. “They were delighted to remain in what has been their corporate home for more than 12 years,” Schuman says.

[IMGCAP(2)]Established in 1988, Guthy-Renker is one of the largest direct response television companies with sales of more than $1.5 billion. Originally launched as a television direct marketer, the vertically integrated company has since broadened its focus into every area of electronic retailing, making products available through broadcast television, cable and satellite, as well as internet, telemarketing, direct mail and retail channels.

In the Sony lease at 6080 Center Drive West, Madison Partners reports that the tenant has renewed for five years. Landlord Equity Office Properties was represented internally by Conan Cotrell and also by Madison Partners principals Chris Houge, Hunt Barnett and Rick Buckley along with directors Beau Rawi and Karly Nolen. Sony was represented by Carl Muhlstein, Steve Walbridge and Eric Duncanson of Cushman & Wakefield. Terms of the lease were not disclosed.

In the Gipson, Hoffman & Pancione lease at 1901 Avenue of the Stars, the law firm signed a $5.5 million, 86-month renewal in which it was represented by Madison Partners. Barnett of Madison Partners comments that the law firm “was able to negotiate a favorable and customized deal based on their situation in this building and in return, the landlord gets to continue to receive good stable cash flow and avoid the risk of a vacancy.” The landlord, Douglas Emmett, was represented internally by Rob Zaas.

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