Mani Bros. Real Estate Group has inked a $32 million deal with a tenant that it lured from one of its former office properties.
Manning & Marder Kass Ellrod Ramirez LLP is moving its headquarters into Mani Bros.’ office building at 801 S. Figueroa St., called the 801 Tower. The law firm had been at 660 S. Figueroa St., a property Mani Bros. sold in 2004 to Milbank Real Estate Services for $62.4 million.
“When we were seeking to relocate our headquarters, it was a top priority for us to move into another one of Mani Bros.’ properties,” said John Marder, the firm’s managing partner, in a statement.
At the 801 Tower, Manning & Marder which has made a name for itself representing police officers and sheriff’s deputies is increasing the amount of space it takes by 50 percent to 80,000-square-feet.
Since its founding in 1994, Manning & Marder’s revenue has grown eight-fold, with about eight attorneys added each year. Now, at 105 lawyers, it ranks among the 40 largest law firms in Los Angeles County, according to the Business Journal.
Manning & Marder has opened offices in San Francisco, San Diego, Irvine and Scottsdale, Ariz. Marder said he wants to open additional offices, starting in Dallas, and add another 60 lawyers in the next two to three years.
The firm also has become well known for some eccentric traditions. Several attorneys, including two name partners, hold black belts in Karate. And Steven Manning, who runs the firm, used to insist before anyone could make partner, they’d have to first jump out of a plane with him though that tradition ended in 2001.
Mani Bros. bought the 435,000-square-foot 801 Tower two years ago for $104 million. The building lost one of its largest tenants when Squire Sanders & Dempsey LLP moved to City National Plaza earlier this year.
However, Mani Bros. has been able to fill Squire Sanders’ abandoned space fairly quickly. In the last several months, the company has signed leases worth close to 110,000 square feet and the 801 Tower is more than 95 percent leased.
Law firm Riley & Reiner, commercial real estate brokerage GVA Daum, insurance company Colony Agency Services and Forgey & Hurrell LLP are all moving into the building.
Cushman & Wakefield’s Clayton Hovivian represented Manning & Marder in the deal, and Eichler represented Mani Bros.
Welcoming Party
A delegation of developers scheduled to tour a 10-acre U.S. Army parcel for sale in West L.A. are in for a boisterous greeting.
Westside neighborhood and business groups are teaming up with veterans to protest the sale of the property. Hundreds are expected to turn out with picket-signs on Wednesday morning to greet developers considering purchasing the property.
“Buyer beware,” said Westwood Village activist Laura Lake. “This is not a neighborhood to be trifled with.”
The Army decided this month to auction off a 10-acre parcel of land it owns at the southeast corner of Wilshire Boulevard and Veteran Avenue that real estate investors believe could fetch more than $90 million.
While the parcel happens to be among some of L.A.’s most valuable property, it’s also in an area where the federal government is already proposing large developments that have attracted local opposition. The FBI wants to build a 1 million-square-foot headquarters at the Federal Building site and the Veterans Administration is considering various scenarios for developing the VA campus.
Activists believe preventing the sale of the Army property is a test case whether the other developments will be allowed to proceed. “If the Army gets away with this, the VA will do the same thing,” Lake said. “There’s a lot more riding than just 10 acres.”
Jessica Landry, who handles outreach for the Citizens for Veterans Rights, said her group and other veterans groups will be at Wednesday morning’s protest. The groups would like to see the land returned to veterans’ uses.
“We’d love to see an expansion of care out there,” Landry said. “L.A. has close to 1 million veterans and that place should have state-of-the-art physical therapy, nursing care and after care.”
The groups are also fighting plans by the VA to develop more uses on its Brentwood campus. Neighborhood and veterans groups, along with elected officials, also want that land preserved for veterans’ services.
Residents and businesses also fear the projects could worsen already heavy traffic congestion in the area. Lake’s group believes the projects could add 320,000 daily car trips to Wilshire Boulevard and surrounding
thoroughfares.
The groups haven’t had much time to organize, but Lake said the last time they relied on e-mail alerts alone, more than 200 residents showed up. She expects a similar amount Wednesday.
For the Record
The individuals involved in negotiating a 44-month lease renewal for Activision Inc. at Equity Office Properties Trust’s Santa Monica Business Park were left out of an item in last week’s real estate column.
Activision was represented by Jones Lang LaSalle’s Peter Best and Lisa St. John. EOP was represented internally by Gail Goldstein, a director of leasing.
Staff reporter Andy Fixmer can be reached by phone at (323) 549-5225, ext. 263, or by e-mail at
[email protected]
.
