LA Office Campus Signs 27,500 SF Tenant
Onni Group’s Wilshire Courtyard office campus in Los Angeles, California has signed a new long-term lease with CO Architects, a Los Angeles-based architecture firm, for 27,461 square feet of space at the Class A office project.
The company will be located on the fifth floor of the six-story building at 5750 Wilshire Blvd. Wilshire Courtyard is a prominent, dual building campus situated in the heart of Miracle Mile, a century old historic Mid-Wilshire neighborhood named for the stretch of Wilshire Blvd between Western Ave and Fairfax Ave and surrounding areas.
Cushman & Wakefield managing director Josh Bernstein, supported by Peter Collins and Scott Menkus from the firm’s Los Angeles office lead project leasing efforts and represented Onni Group in the transaction. CO Architects were represented in the lease by Mike Catalano of Savills.
Wilshire Courtyard comprises two trophy six-story Class A office buildings located at 5700 and 5750 Wilshire Blvd totaling approximately 1 million square feet. The buildings were originally developed in the late 1980s but underwent significant interior and exterior renovations in 2015. The campus is certified LEED® EB: O&M – Gold and is a five-time winner of BOMA’s The Outstanding Building of the Year (TOBY) Award.
The project currently offers approximately 400,000 sf of available office space for lease, ranging from small move in ready spec suites, mid-range 2nd generation space and large blocks of contiguous space, including full floor 100,000 sf floor plates.
Bernstein says: "We are excited to welcome a nationally recognized company in CO Architects as our newest tenant.
"The availability at Wilshire Courtyard presents a rare large-block opportunity within a strategically positioned and attractive midrise office environment. There are very few lease options of this size and quality within the Miracle Mile or any neighboring communities between Hollywood and Culver City to accommodate occupiers with large-scale requirements today.
"This is an ideal, versatile location for a corporate headquarters or an extension thereof, whether it be a local company or an out-of-market entrant wanting to be in the center of Los Angeles and/or near the West coastline."
Collins adds: "This campus should check a lot of boxes for companies, and their employees, as they evaluate their future real estate requirements. The project’s expansive outdoor areas and generous floor plates with balconies help provide a more sufficient and flexible working environment. The midrise campus has many characteristics typical of a suburban working environment but located in a more urbanized setting."
Wilshire Courtyard offers numerous on-site attractions for prospective tenants, including its 125-tiered outdoor balconies, newly renovated common areas and plazas, an Equinox Fitness, a park with jogging trail, and is within walking distance of an abundance of upscale dining and retail. The campus is home to several major leading brands within the media, entertainment as well as tech industries—its famed occupier history has also featured many other influential companies in the entertainment industry. Its proximate location to several production studios also serves as a significant advantage for companies in these industries.
Another key benefit of Wilshire Courtyard is its position along the future Metro Purple Line Extension now under construction. A significant impact to the connectivity and operation of this area, the extension will provide an alternative for commuters to travel between downtown Los Angeles, the Miracle Mile, Beverly Hills and Westwood. Section I of the extension—between Wilshire/Western and Wilshire/La Cienega—where the Wilshire Courtyard is located is expected to open in 2023. Section 2 is scheduled for completion in 2025 and Section 3 is TBD.
Miracle Mile is also an emerging cultural hub as well as business center for Los Angeles. This historic area houses several prominent and popular museum attractions that form Museum Row, including Los Angeles County Museum of Art, La Brea Tar Pits, Craft and Folk Art Museum, the Petersen Automotive Museum, Edward Cella Art and Architecture Gallery, and more. The highly anticipated Academy Museum of Motion Pictures is also now scheduled to open in fall 2021, becoming the world's premier institution dedicated to the art and science of movies.