Onni Group has inked a lease with Sony Pictures for 225,000 square feet of offices in Mid-Wilshire.
The Vancouver-based real estate investor signed the long-term, multi-floor lease with Sony at its two-building Wilshire Courtyard at 5700 and 5750 Wilshire Boulevard, the Commercial Observer reported. Terms of the lease, which begins in April 2024, were not disclosed.
Sony will relocate its divisions from nearby The Culver Studios, where the media company’s current lease is set to expire. The deal was announced by Cushman & Wakefield, which represented the landlord.
Onni Group, an active developer in Los Angeles, bought the 1-million-square-foot complex in 2019 for $630 million.
The 8.7-acre Wilshire Courtyard, built in 1987, is among the largest office campuses in Los Angeles, and located catty-corner from the La Brea Tar Pits and Museum and the L.A. County Museum of Art.
It includes a pair of six-story, brown marble office pyramids separated by courtyards on each side of a quiet cul-de-sac. The stepped complex features 125 tiered outdoor balconies, underground parking, an Equinox Fitness gym, a Coffee Bean & Tea Leaf and a park with a turtle pond.
Onni plans to add a golf simulator, a multiple-screen theater, a tenant lounge and a conference center. It’s partnering with property management platform VTS to act as a tenant concierge.
Brokers Josh Bernstein, Peter Collins, Scott Menkus and Alexa Delahooke of Cushman & Wakefield, along with Onni’s Neal Linthicum, represented Onni Group in the deal. Brokers Josh Gorin and Mike Catalano of Savills represented Sony.
In 2020, Onni Group filed plans to add two high-rise office towers to Wilshire Courtyard, boosting the complex to 3 million square feet. A 35-story tower and a 41-story tower would have connecting bridges, with 115,000 square feet of ground-floor shops and restaurants.
Its two stepped pyramids, and 60,000 square feet of outdoor terraces and public space, would be demolished.
In October, Onni filed plans for a 45-story, mixed-use housing tower at 5350-5376 Wilshire Boulevard, while preserving the street’s Art Deco storefronts.
— Dana Bartholomew
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