Davis Wright Tremaine Renews DTLA Lease

LOS ANGELES-International law firm Davis Wright Tremaine LLP has renewed the lease of its 43,801-square-foot, class-A office space in Downtown Los Angeles, GlobeSt.com reports in this exclusive story. The lease value was undisclosed; however, according to industry sources and based on area asking prices of $3 per square foot, the lease value is approximately $16 million.

Tenant advisory firm Studley represented the law firm in the transaction. “One of the key objectives of our negotiations was ensuring that the lease allowed Davis Wright Tremaine maximum flexibility, meaning the firm has expansion rights, contraction rights and renewal rights,” Andrew Lustgarten, Studley corporate managing director, tells GlobeSt.com. “This allows the firm’s occupancy to mirror its business.”