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6/05/14
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In a recent office lease comp from downtown Los Angeles, Glumac Engineering signed a 12-year, $8.6 mil deal for 17.5k sf ($3.40/sf/mo) of space at 707 Wilshire Blvd. Located in the heart of downtown LA, 707 Wilshire contains roughly 1 msf of Class A space over 62 floors.
Glumac, one of the nation’s leading full service engineering firms, is moving from their current location at 617 W. 7th Street. The move is expected in August, 2014.
Joe Faulkner, executive vice president of CRESA Partners, represented the tenant in the deal. John McAniff, managing director of Jones Lang LaSalle, repped the landlord, Beacon Properties.
“Glumac remains committed to the City of Los Angeles,” said Faulkner. “They will be expanding their employee base by approximately 30% and there is no doubt that this move will strengthen their Los Angeles presence.” The firm, which is already known for its work on the Wilshire Grand Hotel and the Shanghai Disneyland, is moving from their current location at 617 W. 7th Street.
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