Showbiz Law Firm Buys, Revamps Michael Ovitz Building
The Liner Grode Stein firm has acquired the 9800 Wilshire Blvd. property for about $13.5 million.
Entertainment law firm Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor Llp. is remodeling the office building at 9800 Wilshire Blvd. in Beverly Hills that it purchased from a partnership that includes former CAA chairman Michael Ovitz and Bob Goldman, the agency's former CFO.
The 40,000-square-foot building, which the law firm purchased for roughly $13.5 million in December 2010, is adjacent to the former CAA headquarters and was used by the agency as an annex when it outgrew its main building next door.
CAA moved from its I.M. Pei-designed 9830 Wilshire Blvd. headquarters to new Century City offices in 2007. Ovitz, Goldman and others still own the 9830 building. It is now occupied by Sony Music Entertainment, which signed a 10-year lease at the property in 2008.
Liner Grode Stein, which has a client roster that includes Summit Entertainment, Tokyo Broadcasting System and filmmaker Michael Moore, will move into its new building in March. The 60-lawyer firm will relocate from its current headquarters at 1100 Glendon Ave. in Westwood.
Ovitz and partners have sold two properties in Beverly Hills in less than a year. In April, THR reported that Ovitz, Goldman and real estate developer Bill McGregor agreed to sell the Beverly Hills headquarters of Live Nation to New York-based commercial real estate investment firm Tishman Speyer Properties.
The $20 million deal for the 57,111-square-foot building at 9348 Civic Center Drive closed in September.