Pacific Western Bank, a wholly-owned subsidiary of PacWest Bancorp, has signed a long-term lease at the Wilshire Grand Center in Downtown Los Angeles in a deal brokered by Cushman & Wakefield.
Under the terms of the agreement, the commercial bank will occupy 8,010 square feet of office space on the 26th floor of the office tower, along with 3,500 square feet of prominent retail space within the development for its bank branch.
Situated at Wilshire Blvd and Figueroa St, and anchored by the 900-room Intercontinental Hotel, the Wilshire Grand Center has attracted many global firms to its prime location. The Pacific Western Bank lease leaves only two floors available for lease within the tower.
Cushman & Wakefield’s Chairman of Global Transactions, John C. Cushman, III, Executive Director, Steve Marcussen, and Director, Dillon Moscone represented the owner Hanjin International Corporation in the transaction. Kennedy Wilson represented the tenant in-house.
Wilshire Grand Center at 900 Wilshire is a prestigious and renowned address internationally. The building was designed by A.C. Martin & Associates as a mixed-use, amenity rich, workplace for employees and stands as an architectural icon on the Los Angeles skyline. The 2.1-million-square-foot development features the 900-room InterContinental Hotel and the largest meeting room and ballroom complex in Los Angeles. Reaching to 1,100 feet, the Wilshire Grand Center is the tallest building in the Western US.
Cushman & Wakefield provides property management, project management and advisory services at Wilshire Grand Center, and will work with Pacific Western Bank on tenant improvements.