CIM Group Signs Andersen to Los Angeles Tower
- Dec 12, 2019
CIM Group has signed a long-term lease with Andersen for approximately 46,000 square feet or two floors at CityNational2Cal, its 1.3 million-square-foot office tower in downtown Los Angeles. The independent tax firm will relocate its Los Angeles office from 400 S. Hope St., with expected occupancy in mid-2020. JLL assisted the owner’s leasing team in the deal, while Newmark Knight Frank represented the tenant.
Located at 350 S. Grand Ave. in the Bunker Hill district, the 52-story building features 28,787-square-foot floorplates and 44,000 square feet of retail space. Amenities include 16 on-site restaurants, EV charging stations and a parking ratio of 1 space per 1,000 square feet. Designed by Arthur-Erickson Architects, the office tower is LEED Platinum-certified.
Built in 1990, CIM Group renovated the building in 2017, adding glass entrances and an upgraded and expanded lobby, as well as valet parking along Grand Avenue. The owner also began remodeling the 1.5-acre central court and performance plaza shared with 1Cal and the Omni Hotel. The area will see new landscaping and patio furniture, but also a tenant-only gym.
CityNational2Cal is on a 3.7-acre site in the city’s central business district, one block away from Grand Central Market. The property is easily accessible through public transit, being close to several metro and bus stations. The office tower is less than one mile from the 22-story, 390,312-square-foot building where CommonGrounds Workplace leased almost 46,000 square feet in April.