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The office market in Los Angeles may have a little more life to it than previously thought.
Anderson Real Estate has secured a new tenant for Anderson Towers, which is currently in the midst of a $100 million redevelopment, in Los Angeles’ Century City district — the top submarket for premier office space in the region.
Cleveland-based law firm BakerHostetler is relocating its satellite L.A. office from 11601 Wilshire Boulevard in West L.A. to nearly 40,000 square feet at the 28-story building at 1900 Avenue of the Stars in Century City. Though the price of the lease was not disclosed, the firm does have the option to effectively double its space at the office by leasing adjoining space if it wishes to continue expanding, according to BakerHostetler.
The updated Anderson Towers campus, which encompasses two buildings on 5 acres, will feature new outdoor dining and meeting spaces, as well as a new “parklike” courtyard, per BakerHostetler.
“This space, in a prominent business hub, reflects our firm’s commitment to growth and innovation and will help us continue to attract top talent,” said BakerHostetler L.A. Managing Partner Eric Sagerman in a statement.
The firm’s move to Century City is part of a larger plan to expand its operations in California. Since 2019, it has hired more than 120 attorneys on the West Coast and in 2020 opened a new office at the Transamerica Pyramid in Downtown San Francisco.
BakerHostetler is not the first company to move its headquarters to Anderson Towers. Investment management firm Ares Management signed a 12-year lease for 206,000 square feet at the complex in early 2023. That deal also includes naming rights for the tower building next door that it occupies at 1800 Avenue of the Stars.
Nick Trombola can be reached at NTrombola@commercialobserver.com.
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