{"id":1004026502,"date":"2011-02-04T13:16:49","date_gmt":"2011-02-04T21:16:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004026502"},"modified":"2022-12-06T17:40:54","modified_gmt":"2022-12-07T01:40:54","slug":"l-a-uses-tax-breaks-to-lure-gensler-from-santa-monica","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/l-a-uses-tax-breaks-to-lure-gensler-from-santa-monica\/","title":{"rendered":"L.A. Uses Tax Breaks to Lure Gensler"},"content":{"rendered":"<p>By Paul Rosta, Senior Editor<\/p>\n<p><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004026505\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/l-a-uses-tax-breaks-to-lure-gensler-from-santa-monica\/gensler_jewelbox_1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg\" data-orig-size=\"2700,1800\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Gensler_JewelBox_1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg?w=1024\" class=\"alignleft size-medium wp-image-1004026505\" title=\"Gensler_JewelBox_1\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg\" alt=\"\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg 2700w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg?resize=1024,683 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg?resize=1536,1024 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg?resize=2048,1365 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg?resize=150,100 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg?resize=696,464 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg?resize=1068,712 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg?resize=1920,1280 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Gensler_JewelBox_1.jpg?resize=630,420 630w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Even in a recovering office market, it is unusual for a modest-size 45,000-square-foot office lease to command the attention of a big-city mayor and other officials. That was the case in Los Angeles, however, as the mayor and other leaders publicly touted the architectural firm Gensler\u2019s decision to\u00a0 relocate in the city as a vindication of its pro-business policies. \u00a0<\/p>\n<p>At a press conference this morning, Gensler confirmed that it will leave its long-time seaside home in Santa Monica and relocate a few miles east in Downtown Los Angeles. Also on hand were top city officials as well as principals of Gensler and the firm\u2019s new landlord, Thomas Properties Group Inc. \u00a0Gensler will move to the \u201cjewel box,\u201d a three-story, 32,000-square-foot building situated between the twin 52-story towers of Thomas Properties\u2019 City National Plaza. Gensler is designing a renovation of the jewel box\u2019s top two floors (pictured), and plans to occupy its new space by October.<\/p>\n<p>The move is also a feather in the cap for Thomas Properties, which has invested $185 million in renovations and upgrades in City National Plaza since acquiring the 2.5 million-square-foot property in 2003 in a joint venture with the California State Teachers Retirement System. Rather than actively marketing the jewel box, Thomas Properties held it open until it found \u201cthe right creative company that would appreciate its unique attributes,\u201d company CEO Jim Thomas said in a statement. Gensler plans a makeover that will add a mezzanine to create additional space as well as an atrium and skylights to enhance natural light.<\/p>\n<p>Los Angeles Mayor Antonio Villaraigosa billed Gensler\u2019s planned move as a victory for Los Angeles\u2019 Business Tax Holiday incentive program, which gives businesses that open in or relocate to the city a three-year exemption on gross tax receipts. The mayor\u2019s successful courtship of the architectural firm included attending Gensler\u2019s global partners meeting in December, where he pitched the idea of moving to company leaders. Gensler executives cited City National Plaza\u2019s location near many of the firm\u2019s clients in the decision to relocate, as well as city incentives. Over the next five years, Gensler expects its 250-person office to expand by upwards of 40 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Even in a recovering office market, it is unusual for a modest-size 45,000-square-foot office lease to command the attention of a big-city mayor and other officials. That was the case in Los Angeles, however, as the mayor and other leaders publicly touted the architectural firm&#8217;s decision to relocate to the City of Angels as a vindication of its pro-business policies.  <\/p>\n","protected":false},"author":445,"featured_media":1004026505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21808,21742,21747,15],"tags":[],"class_list":["post-1004026502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-featured","category-latest","category-office","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>L.A. Uses Tax Breaks to Lure Gensler - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/l-a-uses-tax-breaks-to-lure-gensler-from-santa-monica\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"L.A. Uses Tax Breaks to Lure Gensler\" \/>\n<meta property=\"og:description\" content=\"Even in a recovering office market, it is unusual for a modest-size 45,000-square-foot office lease to command the attention of a big-city mayor and other officials. 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