December 15, 2016 Comments Off on City National to Anchor Two Cal in $155M Deal Views: 368 California, California News, Los Angeles, West

City National to Anchor Two Cal in $155M Deal

Los Angeles-headquartered City National Bank is taking up to 300,000 square feet at CIM Group’s Two Cal Plaza, in one of the largest office lease deals this year. The growing private and business bank is expanding its DTLA footprint into 11 floors at the 52-story tower in an agreement reportedly valued at $155 million.

The 1.37-million-square-foot Bunker Hill property is being renamed CityNational@2Cal, and gives the bank building top naming rights. The bank also will occupy roughly 275,000 square feet at City National Plaza.

Tenant build-out as an open and efficient workplace will commence in 2017, with occupancy anticipated in 2018.

The anchor deal with City National brings the asset to nearly 70% leased. Law firm Munger Tolles & Olson took roughly 150,500 square feet at the LEED Platinum certified building in December 2015.

CBRE’s John Zanetos, Todd Doney and Chris Penrose represented the landlord. CBRE also represented the tenant.

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For comments, questions or concerns, please contact Dennis Kaiser

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