Los Angeles County has signed a five-year lease renewal for 52,054 square feet near LAX in a lease valued at $10.9 million, one of many large lease renewals signed in L.A. recently.

NAI Capital’s Chris Runyen represented the landlord, JM Eagle, in the transaction.

The office building at 5200 W. Century Blvd. in Westchester has undergone a renovation of the building systems, lobby, common areas, restrooms, HVAC and covered courtyard.
 
“The LAX market is going through a transformation with massive development projects like the international terminal expansion, CONRAC, Metro Line extension and people mover,” Runyen said in a statement.
 
“The recent space absorption in the LAX market during the pandemic and this lease renewal by the county show that the Century Boulevard submarket is a very good value and a great place to do business. This transaction was a win-win for both sides,” he said.
 
There have been several other large lease renewals in L.A.

In March, San Diego-based Parallel Capital Partners Inc. signed $80 million in lease renewals at Shoreline Square at 301 E. Ocean Blvd. in Long Beach for more than 140,000 square feet.

And in February, law firm Cozen O’Connor signed a lease for 9,489 square feet at One West Square at 401 Wilshire Blvd. in Santa Monica and a lease renewal for 16,101 square feet for its downtown office at 601 S. Figueroa St.

The County of Los Angeles also signed a renewal for 117,846 square feet of office space at The Alhambra, a large Ratkovich Co. project in Alhambra.
 
And late last year Century Park’s Century Park Towers signed lease renewals with Law firm Seyfarth Shaw and a financial services company totaling roughly 150,000 square feet.