DIRECTV Signs 630,000-SF ‘Deal of Decade’

EL SEGUNDO, CA-In what brokers describe as the largest Los Angeles-area office lease of the past decade, DIRECTV has leased a 630,000-square-foot, 15-year deal in a set of three buildings in El Segundo. The deal also calls for DIRECTV to occupy an additional 89,000 feet of expansion space that the locally-based provider of satellite television services plans to occupy when existing tenants vacate the space.

Part of the deal with landlord Kilroy Realty was to renegotiate the terms of 330,000 square feet that DIRECTV currently occupies in the South Los Angeles County city. Gary Horowitz, the Jones Lang LaSalle broker who represented DIRECTV, describes as the new lease as a “restructuring” rather than a renewal, because the original lease was due to expire in 2014. The new lease, which takes precedence over the old one, takes effect in January.