LAUSD Signs $24-Million Lease Extension for Downtown Space
The Los Angeles Unified School District has renewed its lease at Wells Fargo Center in downtown Los Angeles for 225,000 square feet of space in a deal valued at $24 million, said building owner MaguirePartners.
The district, which has housed numerous administrative departments in the Bunker Hill complex since 1995, will remain in the skyscraper for 39 additional months. By then, space will become available in the district’s newly acquired headquarters building just west of the downtown core as current tenants’ leases there expire.
The school district considered relocating its Bunker Hill staff into space at the Transamerica Center on the southern edge of downtown before deciding to remain at Wells Fargo Center.
MaguirePartners will spend about $3 million on office improvements and include eight months of free rent as part of the agreement.
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