LOS ANGELES-The law firm of Grant Thornton has signed a 10-year lease for 24,979 square feet of office space at Thomas Properties Group’s 2.7-million-square-foot City National Plaza. Grant Thornton, which is now at 1000 Wilshire Blvd. in Downtown L.A., will move to an entire floor in the north tower of City National Plaza in a relocation that is scheduled for December.
The audit, tax, and advisory services firm is increasing its space to accommodate the growth of its current Los Angeles staff and support expansion in the marketplace, according to an announcement regarding the relocation. Joel Anik, managing partner for Grant Thornton’s Southern California practice, commented in the announcement, “With many distinctive options in the area, this culminates an exhaustive search.”
Grant Thornton’s new location will be on the seventh floor at 515 S. Flower St., between Figueroa, Fifth and Sixth streets. The law firm was represented by executive vice presidents Scott Goldman and David Kluth and senior vice president Mike McKeever of UGL Services. Thomas Properties Group was represented internally by senior vice president Kent Handleman. Terms of the lease were undisclosed.
James Thomas, chairman and CEO of Thomas Properties Group, noted that City National Plaza is now approximately 89% leased. The property occupies a full city block in Los Angeles’ central business district. Its 2.7 million square feet of space consists of twin 51-story office towers, one plaza level building and four subterranean levels consisting of retail shops, boutiques and services. The ground floor features two premier restaurants, Chaya and Drago Centro.
Thomas Properties Group in partnership with the California State Teachers’ Retirement System acquired the complex in 2003 and has since completed a $200 million program of renovations and upgrades and enhanced the property’s amenities. In 2010, the 38-year-old complex had the distinction of being one of the largest and oldest properties to earn LEED Gold certification. The complex was designed by A.C. Martin Partners and built in 1972.
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