- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
With Monday morning’s blockbuster news that CAA is buying ICM Partners came the question of what will happen to each agency’s valuable office building space, just across the street from each other in Century City.
CAA president Richard Lovett told The Hollywood Reporter that, when combined, the companies “are all going to be in one location together as soon as time allows for that to be,” meaning that one or both will likely have to get out of long-term leases. (The merger itself isn’t expected to close until later this year.)
CAA signed a four-year lease renewal in July for its 2000 Avenue of the Stars and Century Plaza Towers spaces, according to a Los Angeles Business Journal report that month. The space comes in at 302,911 square feet. Century Park, which encompasses the offices, is a three-building complex sitting on 14 acres, with amenities including a fitness club, dry cleaning, banks and pharmacies, and has been home to CAA since 2007.
ICM Partners’ headquarters is around the corner at 10250 Constellation Blvd., holding the top five floors of a 35-story Century City skyscraper since an expansion in 2016, with exclusive signage on the tower. ICM has a 10-plus-year lease on the space, which houses more than 200 agents and execs and an estimated 400 total staffers in a 112,000-square-foot space. ICM would need to find an exit from that lease if it should wish to move its staff elsewhere. It has been in the Johnson Fain Partners-designed building since 2007, originally occupying the seventh, eighth and ninth floors.
According to Century Park’s website, there are two offices spaces opening up in 2000 Avenue of the Stars in the coming months (one at 26,000 square feet and another at 31,000), but neither is likely large enough to fit hundreds of new staffers, even as layoffs are expected. Century Park’s North Tower has many vacancies, including several entire floors, if CAA chooses to expand that way.
Neither CAA or ICM has returned to in-person work amid the pandemic, and they have not set specific return-to-office dates as the delta variant delayed original plans for a summer or early fall return.
Sign up for THR news straight to your inbox every day