{"id":1004132069,"date":"2015-11-19T08:06:36","date_gmt":"2015-11-19T16:06:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004132069"},"modified":"2020-05-19T00:37:36","modified_gmt":"2020-05-19T08:37:36","slug":"century-city-office-building-welcomes-new-tenant","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/century-city-office-building-welcomes-new-tenant\/","title":{"rendered":"Century City Office Building Welcomes New Tenant"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

\"The<\/a>

The Plaza, 1840 Century Park East<\/p><\/div>\n

Interpublic Group of Companies<\/a> (IPG) has signed an 11-year, 150,000-square-foot office lease at The Plaza, located at 1840 Century Park East in Century City, Calif. Newmark Grubb Knight Frank<\/a> (NGKF) represented IPG in the deal, which was the largest commercial office relocation to Century City in more than a decade.<\/p>\n

\u201cThis is the largest office relocation to this market in the last 10 years so it makes a major impact,\u201d Steven D. Kolsky, NGKF\u2019s executive vice president and managing director, told Commercial Property Executive. \u201cNot only is IPG taking up a significant amount of space but they are going to bring a vibrant and energetic workforce to the area.\u201d<\/p>\n

Ten of IPG\u2019s agencies, including nearly 700 employees, will relocate from Pacific Design Center in West Hollywood to The Plaza in Century City. The firms include PMK\u2022BNC, Weber Shandwick, Rogers & Cowan, Jack Morton, Octagon, FRUKT, Advantage International, The Axis Agency, Dailey and Campbell Ewald.<\/p>\n

\u201cNGKF recognized that we could take advantage of a good window of time in Century City when there were large blocks of available space at below-market rates,\u201d Henry S. Kobrin, NGKF\u2019s executive managing director, told CPE. \u201cActing at this time, we were able to secure these economics benefits for IPG. Plus they are now moving into a new building that better reflects their global presence.\u201d<\/p>\n

IPG will be the largest tenant in The Plaza towers, occupying eight full floors as well as ground floor space. They will also gain the advantage of exclusive signage rights atop the 1840 Tower.<\/p>\n

\u201cThe building quality and location is more in-line with brand and culture of the agencies than its current location in West Hollywood,\u201d Kolsk said. \u201cThe window line and view also offer more opportunity to incorporate natural light into the workplace.\u201d<\/p>\n

The Plaza Towers provide the benefits of a LEED Silver certified property. Building amenities include a street-side WiFi plaza, valet service, as well as dozens of restaurants, services and retail options on-site and in the surrounding area. According to Kobrin, IPG will rebuild the space to their specifications that are more in line with today\u2019s modern work environments. Additionally, it plans to take advantage of the walkable amenities that Century City offers.<\/p>\n

\u201cIn West Hollywood, most people were using their cars, whereas here in Century City, people get out and walk around\u2014which is culturally more suitable for today\u2019s workforce,\u201d Kobrin said. \u201cThe building even provides services such as bike rentals and valet service. Plus there is a shuttle service for employees.\u201d<\/p>\n

Photo courtesy of theplazacenturyparkeast.com<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

NGKF inked a deal for the largest commercial office relocation to Century City in more than a decade.<\/p>\n","protected":false},"author":451,"featured_media":1004132070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,21743,21742,21747,15],"tags":[],"class_list":["post-1004132069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-real-estate","category-deals","category-latest","category-office","category-west"],"acf":[],"yoast_head":"\nCentury City Office Building Welcomes New Tenant - 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\/century-city-office-building-welcomes-new-tenant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Century City Office Building Welcomes New Tenant\" \/>\n<meta property=\"og:description\" content=\"NGKF inked a deal for the largest commercial office relocation to Century City in more than a decade.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/century-city-office-building-welcomes-new-tenant\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-11-19T16:06:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T08:37:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/location_One.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"448\" \/>\n\t<meta property=\"og:image:height\" content=\"376\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/century-city-office-building-welcomes-new-tenant\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/century-city-office-building-welcomes-new-tenant\/\",\"name\":\"Century City Office Building Welcomes New Tenant - 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