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| September 23, 2005 |
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| BROADWAY PARTNERS ANNOUNCES LEASE RENEWAL FOR UNITED TALENT AGENCY AT WILSHIRE RODEO PLAZA |
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BEVERLY HILLS, CA (September 23, 2005) — Broadway Real Estate Partners, LLC (Broadway Partners), a national commercial real estate investment firm headquartered in New York, has announced a long-term lease renewal and expansion by United Talent Agency (UTA) at the Wilshire Rodeo Plaza at the corner of Wilshire Boulevard and Rodeo Drive.
UTA, a leading Hollywood talent agency, has renewed its 60,220 square-foot lease and has ex¬panded its occupancy with an additional 13,910 square foot lease at this trophy office complex, ideally situated in the distinguished Beverly Hills Triangle, at the corner of Wilshire Boulevard and Roxbury Drive.
“We are delighted that United Talent Agency has chosen to remain at Wilshire Rodeo Plaza for another 12 years,” said Scott Lawlor, chief executive officer and founder of Broadway Partners. “Retaining this important tenant is one of the crucial elements of our value-added business plan for this property.”
Under the terms of the lease, UTA will occupy three floors, plus the penthouse. Broadway Partners represented themselves in this transaction and Cushman & Wakefield represented the tenant.
The Wilshire Rodeo Plaza is a 265,000-square-foot, Class A office and retail complex, consisting of two connected buildings -- the Wilshire Building (six-stories) and the Rodeo Drive Building (three-stories) -- and a four-level parking garage. It is situated across the street from the Regent Beverly Wilshire Hotel, near the luxury retailers and restaurants of Rodeo Drive, and sits adjacent to the affluent residential neighborhoods of Beverly Hills. It is also located within one of the strongest office markets in the nation, with historically low vacancy and unemployment rates.
About Broadway Real Estate Partners
Broadway Real Estate Partners, LLC is a private national real estate investment and management firm headquartered in New York City. Its partners represent a cross section of domestic and in¬ternational private and institutional investors. The firm invests in high quality office properties in select markets nationwide. Since 2000, Broadway Partners has purchased over six million square feet of office space with a value in excess of $1.6 billion.For more information, contact Charles Millard at Broadway Partners’ New York headquarters at 212.319.7100 or visit www.bwaypartners.com.
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