According to the terms of the six-year agreement, the tenant will continue to occupy 19,000 sf at the complex. The offices of the tenant, Price, Raffel & Browne Administrators Inc., are housed on the fourth floor of the 1925 Century Park East tower. The national, full-service employee benefits firm has occupied its Watt Plaza offices since 1986.
Bryan Lewitt and Gerald Porter of CRESA Partners represented the tenant. In-house brokers Ed Collins and Kathy McKay represented the owner, Santa Monica-based Watt Commercial Properties.
The Watt Plaza complex is currently 90% leased. It consists of two 23-story towers, encompassing 900,000 sf of Class A office space, as well as a 36,000-sf retail plaza.
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