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11/17/14
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Oaktree Capital Management inked an expansion/renewal lease for 182k sf of downtown Los Angeles office space in one of the largest leases in the area so far this year. The deal, which bumps up the firm’s presence in Los Angeles’ central city by 26k sf, is at 333 S. Grand Ave, one of the two buildings that make up Wells Fargo Center, on Bunker Hill.
Oaktree is increasing its space from six to seven full floors at the high-rise, owned by Brookfield Property Partners. Although the deal value was not disclosed, a piece in the LA Times says that Brookfield has been asking $27/sf/yr for the space.
Brookfield is one of the largest office landlords in downtown Los Angeles. The firm’s portfolio includes: Bank of America Plaza at 333 S. Hope St; Wells Fargo Center at 333/335 South Grand Ave; Figueroa at Wilshire at 601 S. Figueroa St; Ernst & Young Plaza at 725 S. Figueroa St; the Gas Company Tower at 555 W. 5th St; and 777 Tower at 777 S. Figueroa St.
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