New York-based law firm Gibson, Dunn & Crutcher renewed its lease at 333 South Grand Avenue in downtown Los Angeles. The company signed a long-term deal with the owner, Brookfield Properties, for 215,000 square feet of office space in the 54-story Wells Fargo Center North Tower.
CBRE’s Stephen L. Bay, Mark Sprague and Danny Rees represented the tenant, while Brookfield’s John Barganski and CBRE’s Todd Doney, John Zanetos, Chris Penrose and Phillip Ruhl negotiated on behalf of the owner.
Gibson Dunn has been an anchor tenant in the downtown Los Angeles office space since its completion in 1982. More than 500 company associates and employees will occupy eight floors in the north tower. Listed among the 20 largest law firms in the U.S. according to the Internet Legal Research Group, Gibson Dunn shares the building with other prestigious tenants, such as Wells Fargo Bank, Oaktree Capital, Latham & Watkins and DoubleLine Capital.
The 1.4-million-square-foot Wells Fargo Center North Tower includes 76,400 square feet of retail space and a 1,300-space parking lot. The property is currently undergoing a $60 million renovation to refurbish the atrium with an indoor/outdoor space called Halo. Scheduled to open next year, Halo will feature a sit-down restaurant, eight quick-service restaurants, an indoor/outdoor bar and a large-scale meeting space.
Designed by Skidmore, Owings & Merrill, the North Tower and its smaller counterpart―the 47-story Wells Fargo Center South Tower―are joined by a three-story glass atrium. The two buildings were part of a $3 billion portfolio that Brookfield took over after acquiring MPG Office Trust, a company that had become one of Southern California’s largest office landlords before the financial downturn. Brookfield Properties is currently one of the largest commercial real estate owners in Los Angeles.