Century Park Complex Put on MarketMonday, September 16, 2013
The sprawling Century Park office campus, which includes the headquarters of Creative Artists Agency and the twin Century Plaza Towers, has been put on the market by J.P. Morgan Asset Management.
The three-building office park, which comprises 3.2 million square feet of class A office space, ground floor retail and a four-acre pedestrian park, is expected to sell for as much as $2.5 billion, according to a report in the Hollywood Reporter.
The iconic 44-story Century Plaza towers, built in 1980, were designed by Japanese-American architect Minoru Yamasaki, who also designed the World Trade Center in New York. Each tower is at least 85 percent leased.
CAA occupies about 180,000 square feet in a 12-story building that caps the expansive office park to the west, at 2000 Avenue of the Stars. The company, which signed a 15-year lease in 2007, is not expected to be affected by the sale.
Eastdil Secured will manage the disposition process.