PwC has signed a 15-year lease for about 150,000 square feet at 2121 Avenue of the Stars, a trophy tower in Century City, Calif., owned by Irvine Company. The move won’t happen until 2028, when the firm’s downtown lease expires, but the deal is signed and is reportedly worth about $200 million. PwC has kept an office in the financial district since the late 1990s, and its current space at 601 S. Figueroa St. runs about 114,000 square feet, so the Century City lease gives it noticeably more room than it has today.

The relocation is in line with other firms that have moved out or downsized their space in downtown Los Angeles. Namely, Deloitte and KPMG have pulled back the space they held in the financial district, and Wedbush moved to Pasadena, Calif. Most of the demand that has remained in the market keeps landing in Century City, where Irvine Company’s towers command some of the highest rents in a city that is already expensive by the standards of the region: Office asking rents in Los Angeles ran above $40 per square foot in May, which was among the highest in the West, according to Yardi Research Data.

The property at 2121 Avenue of the Stars was built as Fox Plaza — the tower that stood in for Nakatomi Plaza in “Die Hard” and where Ronald Reagan kept an office after he left the White House. Today, it runs 34 stories and about 970,000 square feet and was 94% leased in early 2025. Andy Sofield, who runs PwC’s Los Angeles office, said the lease was “about growth, connectivity and the future of our Los Angeles business.”

By the metro-wide numbers, Los Angeles looks healthier than much of the West. Office vacancy was 14.1% in May, below the national average of 17.6% and far below the rates above 23% in San Francisco and San Diego, according to Yardi Research Data.