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Interpublic Group Relocates to 150k sf of Space in Century City

11/23/15

In one of the largest office leases in Century City in quite some time, Interpublic Group of Companies (IPG) agreed to an 11-year deal for 150k sf of space at The Plaza, located at 1840 Century Park East.

IPG will be the largest tenant in The Plaza towers, occupying eight full floors as well as ground floor space. They will also gain the advantage of exclusive signage rights atop the 1840 Tower. The Plaza comprises two Class A office buildings located at 1800 and 1840 Century Park East.

IPG is one of the world's leading organizations of advertising agencies, public relations and marketing services companies with more than 48,000 employees and offices in over 100 countries. Ten of IPG’s agencies, including approximately 700 employees, will relocate from Pacific Design Center in West Hollywood to The Plaza in Century City. The firms include PMK•BNC, Weber Shandwick, Rogers & Cowan, Jack Morton, Octagon, FRUKT, Advantage International, The Axis Agency, Dailey and Campbell Ewald.

Steven D. Kolsky and Henry S. Kobrin of Newmark Grubb Knight Frank (NGKF) represented IPG in the transaction. Accoridng to NGKF, this move marks the largest commercial office relocation to Century City in more than ten years. The lease value was not disclosed.

“The combination of some major relocations and downsizing in the Century City market has created a window of opportunity for large tenants considering the area,” noted Kolsky. “While this deal provides IPG with significant economic benefits, the firm will also gain significant visibility from relocating to a higher-quality, tenant-friendly, green office building.”

The Plaza Towers provide the benefits of a LEED® Silver certified property. Building amenities include a street-side WiFi plaza, valet service, as well as dozens of restaurants, services and retail options on-site and in the surrounding area.






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