LOS ANGELES--(BUSINESS WIRE)--MPG Office Trust, Inc. (NYSE: MPG), a Southern California-focused real estate investment trust, announced today that it has executed a new lease with the international law firm of Akin Gump Strauss Hauer & Feld LLP for approximately 25,000 square feet in the 72-story U.S. Bank Tower in Downtown Los Angeles, California. Akin Gump is expected to occupy its new space in the third quarter of 2011.
Mr. David L. Weinstein, President and Chief Executive Officer, commented, “We are excited to welcome Akin Gump to Downtown Los Angeles. This lease reflects our ongoing efforts to attract the highest quality tenants to U.S. Bank Tower.”
John A. Karaczynski, the firm’s Los Angeles managing partner in charge, remarked, “We are pleased to expand our presence in Los Angeles with office space Downtown. U.S. Bank Tower offers a strategic location for our project finance practice that is convenient for our clients. We look forward to continuing our growth in the LA market, both in Downtown and Century City.”
Akin Gump was represented by Msrrs. Andrew Lustgarten and Michael Catalano of Studley. Msrrs. Peter Johnston, Pat McRoskey and Josh Wrobel represented MPG Office Trust in the transaction.
About U.S. Bank Tower
At 1,375,000 square feet, U.S. Bank Tower is the tallest building west of the Mississippi and a key icon of the Downtown Los Angeles skyline. Designed by world-renown architect I.M. Pei, the prestigious tower dominates the Downtown skyline and offers tenants stunning and unparalleled views of Southern California. U.S. Bank Tower is strategically located that offers exceptional freeway and public transportation access, proximity to the Walt Disney Concert Hall, the Museum of Contemporary Art, the Colburn School of Performing Arts and the soon to be constructed Broad Art Museum.
MPG Office Trust, Inc.
MPG Office Trust, Inc. is the largest owner and operator of Class A office properties in the Los Angeles central business district and is primarily focused on owning and operating high-quality office properties in the Southern California market. MPG Office Trust, Inc. is a full-service real estate company with substantial in-house expertise and resources in property management, marketing, leasing, acquisitions, development and financing. For more information on MPG Office, visit the Company’s website at www.maguireproperties.com.
Akin Gump Strauss Hauer & Feld LLP
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP, a leading international law firm, numbers more than 850 lawyers in the United States, Europe, Asia and the Middle East. The firm established a Los Angeles office in Century City in 1997 and will open a Downtown office in September 2011. The attorneys in Los Angeles concentrate on complex litigation, mergers and acquisitions, project finance, corporate finance, film finance, transportation finance, labor and employment, financial restructuring, tax, environmental, natural resources and land, and real estate matters. The firm works with companies in a broad range of industries, including entertainment and media, renewable energy, transportation, insurance, technology, retail, manufacturing, petrochemical, food, restaurant and hospitality.
Business Risks
This press release contains forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include: general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases at favorable rates, dependence on tenants’ financial condition, and competition from other developers, owners and operators of real estate); risks associated with the availability and terms of financing and the use of debt to fund acquisitions and developments; risks associated with the potential failure to manage effectively the Company’s growth and expansion into new markets, to complete acquisitions or to integrate acquisitions successfully; risks and uncertainties affecting property development and construction; risks associated with downturns in the national and local economies, increases in interest rates, and volatility in the securities markets; risks associated with joint ventures; potential liability for uninsured losses and environmental contamination; risks associated with the Company’s potential failure to qualify as a REIT under the Internal Revenue Code of 1986, as amended, and possible adverse changes in tax and environmental laws; and risks associated with the Company’s dependence on key personnel whose continued service is not guaranteed.
For a further list and description of such risks and uncertainties, see our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on April 28, 2008. The Company does not update forward-looking statements and disclaims any intention or obligation to update or revise them, whether as a result of new information, future events or otherwise.