Investment manager firm to move into Avenue of the Stars property in 2024
Anderson Real Estate has announced that Ares Management will be the anchor tenant of Anderson Towers – their iconic $100 million remodeled office complex in Century City at 1800 and 1900 Avenue of the Stars.
Ares Management, a global alternative investment manager headquartered in Los Angeles since 1997, will move their LA team into a 12-year lease of 206,000 sq. ft at 1800 Avenue of the Stars come June 2024. The agreement includes naming rights to the property, now known as Anderson Towers.
“The office of the future must be a space that attracts tenants by providing them with what they can’t get at home,” said Matt Lavin, President of Anderson Real Estate. “This is precisely what we are building at Anderson Towers: a modern, tech-integrated, environmentally friendly space that will make the workday more fulfilling. As the concept of how we interact with work continues to evolve, we believe what we are creating are the types of spaces and amenities that forward-thinking companies will demand for their employees.”
Once complete, it will offer panoramic views, access to unparalleled amenities and services, state-of-the-art tech, and 5 acres of outdoor spaces – plus a lush park landscape with interconnected pathways and a footbridge connection to Westfield Century City Mall. Tenants can work or take meetings outdoors too!
“We are excited to begin the transformation of these two properties into what will become one of the most sought-after workplace destinations in the city, and we could not be more pleased to welcome Ares, one of the most respected investment managers in the world with incredibly deep Los Angeles roots, as our anchor tenant,” said William Anderson, Executive Chairman & CEO of Anderson Holdings. “This is a huge win for our entire real estate group which had both the fortitude and vision to get this project off the ground. This redevelopment is just one of a number of large investments Anderson Real Estate is making across its Southern California portfolio.”
David Montalba of Montalba Architects and Dillon Diers of OJB Landscape Architecture are leading the redesign of Anderson Towers, supported by Tony Kantarjian’s Development Management. Peter Gordon and Taylor Callaway of AllianceBernstein provided financing, while LA Realty Partners’ Peter Best and the CBRE team (Rocky Binswanger, Bryan Dunne, David Freitag) represented Anderson Real Estate. Legal counsel on behalf of Anderson was provided by John Tipton from Allen Matkins; Ares Management was represented by John Bertram from Savills and Scott Gertz from WESTMAC.
