CAA's Century City Office Building Listed for Sale (Exclusive)
Creative Artists Agency's Century City office building is being put up for sale.
Century Park, which includes CAA's 12-story, Gensler-designed headquarters, as well as the iconic 44-story Minoru Yamasaki-designed Century Plaza Towers, has come on to the market, according to J.P. Morgan Asset Management. Totaling 3.2 million square feet of "Class A" office space, insiders are predicting that the sprawling Century City site will be sold for between $2 billion and $2.5 billion. Eastdil Secured will manage the disposition process.
Known as Century City's "super block," the property is currently owned by a consortium of investors advised by J.P. Morgan Asset Management and also includes a 4-acre park, the Annenberg Space for Photography, several cafes, Tom Colicchio's Craft restaurant and parking for more than 5,000.
In 2007, CAA famously migrated from its I.M. Pei-designed Beverly Hills headquarters to its new 12-story, glass-and-steel home base, located on the previous site of the ABC Entertainment Center. The building was nicknamed The Death Star by some because its open-air central feature recalls the Star Wars icon.
CAA is midway through a 15-year-lease on the building, with 180,000 square feet of office space, so the sale is unlikely to affect the agency's presence in Century City.