Talent Agency to Relocate LA Office

BUCHWALD leased the penthouse floor of a 453,000-square-foot building to relocate its office in the Miracle Mile district. In the move, the firm will more than double its previous space.

5900 Wilshire Blvd. in Los Angeles
5900 Wilshire Blvd. in Los Angeles

BUCHWALD has signed a 15,000-square-foot lease on the penthouse floor of a 31-story office building in Los Angeles’ Miracle Mile district. The full-service talent agency will relocate its Los Angeles branch from 6500 Wilshire Blvd., more than doubling its space. This is the New York City-based company’s second location.

AXA Real Estate Investment Managers owns the 453,000-square-foot high-rise, located at 5900 Wilshire Blvd. Designed by William Pereira and completed in 1969, the property underwent a $34 million renovation in 2008. Tenants at the LEED Gold building include Entercom, Premiere Digital Services and Sundance Institute. The office building is now 95 percent occupied.

NKF Executive Managing Directors Ryan Harding and David Kluth negotiated the new lease on behalf of the tenant. CBRE’s Vice Chairman Jeff Pion and Senior Vice Presidents Deron White and Michelle Esquivel-Hart represented the landlord.

According to Yardi Matrix data, AXA Real Estate teamed up with The Ratkovich Co. to acquire the asset in 2005 from RMR Properties for $102.5 million. Last year, AXA purchased the remaining 51 percent interest in 5900 Wilshire for $125 million.

Image courtesy of NKF