Coworking Firm Spaces Leases 66K+ SF in Westchester
Tuesday, July 24, 2018
5999 Center Drive
Coworking firm Spaces has leased more than 66,000 square feet of space at the former Univision building at 5999 Center Drive in Westchester.
Daniel Rainer, a senior associate at CBRE Group Inc., represented Spaces in the lease transaction. Bryan Dunne, a first vice president at CBRE, and Kent Handelman, a senior vice president at Lincoln Properties, represented the landlord, CBRE Global Investors.
CBRE Global Investors purchased the property in 2016 for $102 million or nearly $586 per square foot.
The Westchester site is near the tech hub of Playa Vista, and has undergone a multi-million-dollar renovation, CBRE said.
It’s the eighth lease for Spaces in Los Angeles County. The company, whose parent is the Switzerland-based IWG, also has coworking spaces at City National Plaza and Row DTLA in downtown Los Angeles, Hollywood, Fairfax, Culver City, El Segundo, Santa Monica and Calabasas.
The company’s total footprint in Los Angeles County is nearly 389,000 square feet.
Real estate reporter Ciaran McEvoy can be reached at cmcevoy@labusinessjournal.com or (323) 556-8337.