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3/08/17
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Northwestern Mutual Los Angeles inked a 10-year lease for 25k sf of office space in downtown Los Angeles, on the 34th floor at 515 South Flower St. The financial security company will move into the newly redesigned, “free-addressing” space on July 1, 2017. Northwestern Mutual Los Angeles is the first among its competitors in Los Angeles to engage in the free-addressing model as part of its larger strategy to better serve clients and effectively engage employees.
CBRE’s Kevin Bender represented Northwestern Mutual Los Angeles in the lease, which will optimize the company’s current two-and-a-half floors to one full floor of the Class A high-rise. The lease value was not disclosed.
Bender collaborated with CBRE’s Workplace and Project Management teams to help reinvent the space. The new plan creates a best-in-class client experience, as well as more technically advanced and collaborative workplaces for the firm’s employees. Through adoption of the free-address policy, in which all office space is unassigned, the revamp will result in a 38% reduction in overall space, while enabling more than a 30% growth within the organization.
The office will feature a client experience center complete with a concierge, coffee bar, private meeting rooms and stunning views. Additionally, the space will feature a variety of workspaces for veteran advisors and new financial professionals to conduct focused work and collaborate more efficiently with their teams and each other.
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