Savills Moving Out Of Downtown Tower To Consolidate In Century City
Savills is leaving behind its roughly 7,800 SF at 777 S. Figueroa to join with its Westside office, taking approximately 20K SF in Century City.
The new space at 1900 Avenue of the Stars is an expansion of the roughly 10K SF it previously had in Westwood, which it is also vacating.
“We’ve always believed that the best ideas come from working together," Savills Los Angeles Region President Josh Gorin said.
Savills is leaving behind a property that was among a crop once owned by a Brookfield-controlled entity. Ownership defaulted on more than $300M of loans connected to the tower in 2023.
In July 2024, it sold to an unidentified Chinese investor for $120M cash.
Savills is far from the first firm to leave Downtown for Century City. The submarket has been a beacon of office activity since the pandemic as other markets have struggled.
Anderson Towers, at 1800 and 1900 Avenue of the Stars, has been a beneficiary of the influx of tenants to Century City. The property is undergoing a $100M renovation and in the last two years attracted Ares Management, which took 200K SF in early 2023, and law firm BakerHostetler, which signed up for almost 40K SF about a year ago.
Gorin oversaw lease negotiations for Savills. Peter Best of LA Realty Partners and CBRE's David Freitag, Kayla Rix and Rocky Binswanger represented the building's owner Anderson Real Estate.
CORRECTION, MARCH 19, 5:40 P.M. PT: A previous version of this story misidentified the location of the Westside office that Savills is leaving. The story has been updated.
