Newmark has announced a new 83,000-square-foot lease on behalf of Paradigm Talent Agency. The agency is consolidating three locations into a new headquarters space within the Wilshire La Peer Building located at 8942 Wilshire in Beverly Hills.
Newmark’s Managing Director Michael Moll along with Jeff Pion of CBRE represented the tenant in the long-term lease. LA Realty Partner’s Peter Best, Lisa St. John, and Rick Buckley represented the building owners Ocean West and Walton Street.
Paradigm will lease the entire building and has plans to make significant capital renovations to the property. The firm anticipates taking occupancy of the building in the spring of 2018. The iconic building will provide Paradigm with prominent Wilshire Blvd. frontage while maintaining its presence within the coveted Beverly Hills market.
Led by Chairman and CEO Sam Gores with offices in Los Angeles, New York City, London, Monterey, Nashville, Chicago and San Diego, Paradigm provides global representation to clients in television, live music, motion pictures, theater, digital, book publishing, content finance, brand partnerships and beyond. Since 1993 the agency has acquired a variety of complementary companies, always with the goal of providing a broad and evolving range of services to artists.
“8942 Wilshire is a strategic move for Paradigm to unite three separate locations in LA, allowing them to continue growing the company from a single headquarters,” said Moll. “With limited large blocks of availabilities within Beverly Hills, let alone the greater west LA market, the ability to lease a stand-alone building where Paradigm could provide a heightened employee and client experience was very important as we surveyed the market.”
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