Global law firm DLA Piper is strengthening its presence in downtown Los Angeles, by expanding its offices in the well-reputed KPMG Center.
550 South Hope Street, Los Angeles (Yardi Matrix)
After 12 years of tenancy, the company has entered into a new 10-year lease for an additional 33,491-square-foot space. The firm’s new fully renovated office includes the entire 24th floor, while the rest is located on the 2nd and 23rd floors.
The lease transaction was arranged by Newmark Knight Frank (NKF), whose Executive Managing Director, David Kluth, revealed that the firm also explored the possibility of relocating. However, DLA Piper ultimately decided to maintain its long-term commitment to the KPMG Center.
“DLA Piper has enjoyed its tenancy at 550 Hope for the last 12 years and while we explored relocating to a new location, the firm decided to remain on a long-term lease in favor of the building’s central location, convenient parking, image, and identity at compelling economics,” stated Kluth.
The new space was leased following DLA Piper’s recent acquisition of Liner LLP, a Los Angeles-based boutique law firm. “Our new office will reflect DLA Piper’s continued commitment to an expanded foothold in Los Angeles,” added Jackie Park, co-managing partner of DLA Piper in Los Angeles.
The KPMG Center, located at 550 South Hope Street, is a 590,207-square-foot, 28-story Class A tower. Built in 1990, it is one of the latest additions to the downtown L.A. skyline and features a distinctive architecture.
