Newmark Grubb Knight Frank (NGKF) has secured a new 34,546-square-foot lease for RBZ, LLP, one of the largest public accounting firms in Southern California y with over 100 employees and 15 partners. The firm which provides audit, tax, business management, and advisory and accounting services will move from its longtime office at the Landmark 1 building, 11755 Wilshire Boulevard, to expanded space at the Landmark II building at 11766 Wilshire Boulevard.
“We were able to negotiate a lease for nearly two floors with expansion rights for the balance of the second floor. There is an interconnecting stairway, and the space better suits the growing accountancy firm’s needs,” said NGKF managing principal Michael P. Arnold. “Because of the significantly larger floorplates in Landmark II compared to Landmark I, RBZ will now have more employees efficiently located with easy access between the spaces, fostering a more collaborative environment,” said Arnold. There is an average of 22,000 square feet per floor at Landmark II.
“Additionally, the offices the firm will occupy have already been outfitted for accounting-firm use by a previous tenant,” noted NGKF managing director Ron Burkhardt. “It’s more appropriate space and reduces the cost on construction.”
According to Mark Baumohl, RBZ managing administrative partner, “Mike and his team worked with us over a long period of time to get us a great result. The stay or leave scenario was analyzed in detail that we accountants could relate to and then apply our subjective criteria to the decision. We are very pleased with our choice!”
In addition to Arnold and Burkhardt, Steve Kolsky of NGKF and Russell Hughes (now with Hughes Realty Advisors) represented the tenant.
The Landmark II is owned by major West Los Angeles landlord Douglas Emmett, Inc., which had in-house representation for the transaction.
About RBZ, LLP
RBZ, LLP is one of the largest independent public accounting firms based in Los Angeles serving businesses and individuals throughout Southern California and other areas of the U.S., and internationally. The firm provides comprehensive audit, tax, business management and advisory services through its distinct niches: Entertainment, Family Wealth, International Tax, Law Firms, Middle-Market, Nonprofit and Real Estate. RBZ serves clients internationally through its membership in JHI, an affiliation of public accounting firms in over 55 countries and 150 cities. RBZ has also been consistently recognized as a “Best Place to Work” by local and national business and trade journals.
About Newmark Grubb Knight Frank
A part of BGC Partners, Inc. (NASDAQ:BGCP), Newmark Grubb Knight Frank is one of the largest commercial real estate service firms in the U.S. It brings together the strategic consultative approach to creating value for clients and leading position in the New York market that are hallmarks of Newmark Knight Frank; the complementary strengths of Grubb & Ellis in leasing and management, investment sales, valuation and capital markets services; and BGC’s financial strength, proprietary technology, expertise in global capital markets and deep relationships with many of the world’s leading financial institutions.
Newmark Grubb Knight Frank, together with its affiliates and London-based partner Knight Frank, employs more than 11,000 professionals, operating from more than 300 offices in established and emerging property markets on five continents. This major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide.