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JMB Realty Secures Sidley Austin As Tenant For Century City Office Tower

Property Image
LEASED

California

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Office75,000 SF
Leased 12/18/2023
the dealdetailscomps
Property Image
LEASED

JMB Realty Secures Sidley Austin As Tenant For Century City Office Tower

1950 Avenue of the Stars

See Similar Deals
Office75,000 SF
Leased 12/18/2023
the dealdetailscomps

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:75,000 SF
Transaction Type:Lease

The JMB Realty-owned office tower at 1950 Avenue of the Stars in Los Angeles has secured law firm Sidley Austin as its newest tenant. The 37-story building, located in the competitive Century City market, is already 85% leased and valued at $300 million. Sidley Austin will occupy 75,000 square feet of space, joining Clearlake Capital Group and Creative Artists Agency as major tenants in the development.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Square Footage: 75,000
  • Address: 1950 Avenue of the Stars
  • Market: Los Angeles

JMB Realty, owned by Rigel Barber, is the landlord of the building. Sidley Austin will be represented by Dan Clivner and Mehdi Khodadad in the lease agreement.

Details

LEASED
IMAGE: Dan Clivner & Mehdi Khodadad DATE: 12/18/2023 ADDRESS: 1950 Avenue of the Stars MARKET: Los Angeles ASSET TYPE: Office ~ SF: 75,000 LANDLORD: JMB Realty - Rigel Barber TENANT: Sidley Austin (@SidleyAustin) - Dan Clivner & Mehdi Khodadad NOTE: JMB Realty is on the verge of signing law firm Sidley Austin as the third major tenant for its 37-story office tower in Century City. With 75,000 square feet, Sidley Austin joins Clearlake Capital Group and Creative Artists Agency in pre-leasing space in the $300 million project, which is already 85 percent leased in the competitive Century City market.

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$42,989,547.42

Net Landlord Cash Flow$4,298,954.74