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Tuesday, May 17, 2022

CRE Awards 2020: Best Office Lease

Vital Statistics

Property Address: 1200 West 7th Street

Square Footage: 370,000

CBRE’s Clay Hammerstein and team represented L.A. Care Health Plan in its 370,000-square-foot lease for an office building downtown. The building is located at 1200 W. 7th St. L.A. Care Health Plan, the largest publicly-operated health plan, will take occupancy of the property in 2024. The lease deal is part of a consolidation of the company’s Los Angeles office space, moving all 2,000 employees into this new location. As a result, the L.A. Care was able to reduce its office footprint by 63,000 square feet, saving millions of dollars per year.

Vital Statistics

Property Address: 800 N. Brand Blvd, Glendale

Square Footage: 125,000

In 2019, Suzanne Lee represented ServiceTitan, a leading provider of workflow and field service management software for home-service businesses, in a 125,000-sf headquarters expansion and relocation in Glendale. In one of the city’s largest new lease transactions since 2016, the company signed a seven-year lease at 800 N. Brand Blvd, a trophy office tower owned by Beacon Capital Partners. After an extensive multi-market evaluation, Suzanne and the C&W team negotiated a new HQ lease at 800 N Brand Blvd. that provides for phased-in growth over the next several years and includes prominent building top signage overlooking the 134-freeway.

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