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Law Firm Signs Blockbuster, $80-Mil Lease

LOS ANGELES-In Downtown's largest lease of the year, Paul, Hastings, Janofsky & Walker LLP takes 208,847 sf at the once-troubled Arco Plaza. Part of the project will be renamed Paul Hastings Tower.

By David W. Myers | Updated on December 14, 2001

LOS ANGELES-One of the nation’s largest law firms has signed an $80-million lease for 208,847 sf of class A space at Arco Plaza, establishing another milestone in the once-troubled property’s remarkable comeback and also marking one of the biggest office leasing deals in the history of the central business district.

Terms of the 15-year lease inked by Paul, Hastings, Janofsky & Walker LLP also call for the north building of the plaza’s distinctive black twin towers to be renamed Paul Hastings Tower, according to brokers involved in the deal. The attorneys will move from their current space in the 2.2-million-sf complex’s south tower next July.

The dollar value of the transaction easily eclipses any of Downtown’s other leases that have been consummated in 2001, and ranks as one of the largest in the CBD’s history. The agreement was announced late last night.

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