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8/10/16
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Engineering firm Simpson Gumpertz & Heger inked a long-term lease for 14.8k sf of office space in downtown Los Angeles. The company agreed to a 92-month lease for the entire 16th floor of 1150 S. Olive St., which is located in downtown’s South Park district a few blocks from Staples Center/LA Live.
The space is currently undergoing extensive renovations and move-in is anticipated for January 2017. Simpson Gumpertz & Heger will be relocating from its downtown Los Angeles space at 1055 W. 7th Street where the firm currently occupies approximately 13k sf.
Ted Simpson and Scott Steuber with Avison Young, based in the company’s downtown Los Angeles office, represented the tenant. The landlord, LBA Realty, was represented by CBRE.
“Our client wanted to reconfigure a more efficient floorplan for its business needs; however, that goal could not be accomplished at its current space,” comments Simpson. “The new space at 1150 S. Olive is a side core plan, meaning that a user can stand at one end of the office and see all the way down to the other end, making the work environment more cohesive and collaborative.”
The 1150 S. Olive building is within LBA’s two-building South Park Center, which recently underwent a $35 mil interior and exterior redesign. The property features a new façade, Zen gardens, shopping and dining options, fitness center and shared conference space.
Other key tenants at the building include USC, Transamerica, and Lynberg & Watkins.
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