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Buchwald, the talent agency that represents Howard Stern, Paul Schaffer and other celebrities has signed a 10-year lease to occupy a nearly 15K SF penthouse at 5900 Wilshire, the tallest building in the Miracle Mile district.
The financial terms of the deal were not disclosed. Newmark Knight Frank’s Ryan Harding and David Kluth represented Buchwald. CBRE represented the landlord, The Ratkovich Co.
“Our client focused on 5900 Wilshire once the most prestigious floor in the building became available featuring SBE’s high-end improvements fitting for reuse and modification to the specifications of Buchwald’s Los Angeles headquarters,” Kluth said in a news release.
Buchwald, which was recently rebranded from Don Buchwald & Associates, is moving from its 7,500 SF office at 6500 Wilshire to double its space at 5900 Wilshire. The new office space will serve as the talent agency's West Coast headquarters. Buchwald also has an office in New York.
With the lease, 5900 Wilshire is now 95% occupied and shows the growing demand for office space in the Miracle Mile District, NKF’s Kluth said.
“The area is desirable for a number of reasons — primarily less expensive rates relative to Beverly Hills, Hollywood and West Hollywood; improving transportation options, especially the metro construction occurring as we speak, and improving amenities,” Kluth wrote in an email. “The ability to be in many areas of the city quickly, especially for entertainment industry powerhouses like Buchwald, is very important, and the Miracle Mile area provides them that luxury.”
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