51st Floor on 707 Wilshire Has a New Tenant
Engineering Firm Miyamoto International Signs Lease in Downtown LA
Miyamoto International, the global structural engineering firm best known for its earthquake mitigation efforts in new and existing buildings and its disaster relief efforts around the world, has leased nearly 10,000 square feet on the 51st floor of the 707 Wilshire Building in downtown Los Angeles in what Colliers International is calling an extensive downtown re-positioning for the company.
Miyamoto, which will be moving into the larger quarters at the more established and recently renovated 707 Wilshire building from its previous space at 700 S. Flower Street, has a strong presence in both Los Angeles’ public and private sectors. In the public realm, the firm has carried out assignments that have encompassed Metro transit and maintenance facilities, aviation, and institutional projects. In the private sector, the firm’s assignments have included housing, hotels, retail and theme parks.
Additionally, Miyamoto has been instrumental in disaster-relief efforts in such locales as Haiti, Thailand, New Zealand, China and Japan, among a host of other countries. It recently sent a team to Nepal in response to that country’s devastating 7.8-magnitude earthquake and has personnel working there indefinitely. Domestically, the firm is active in a range of structural engineering assignments from retro-fitting existing structures to consulting and project management on new developments.
“What this move signifies for Miyamoto is the growth in the structural engineering industry, both locally and around the world,” said Colliers Senior Vice President Nathan Pellow, who represented the firm in its move to the new and larger quarters. “With its business – including disaster relief, structural engineering and project management on the rise – it has added personnel here and needed a larger space in which to house them. They also wanted a higher profile space and interior build-out and they got it in this prestigious building.”
Headquartered in Sacramento with 16 offices in 11 countries around the world, locally the firm will occupy the 51st floor of the landmark Wilshire Boulevard building for an initial term of 11 years. Total consideration of the transaction was approximately $4.6 million. While Colliers’ Pellow and Associate James Robbins of the firm’s downtown Los Angeles office represented the firm in the transaction, the building, which is owned by the San Francisco investment firm of Shorenstein Properties, was represented by Tim Miller and Dana Vargas of JLL.
“This expansion demonstrates the growth of the structural engineering field in Southern California over the past few years,” added Pellow. “There are still many public and private buildings and other structures in need of earthquake retrofitting here that it just made sense to add more engineers in Los Angeles to cover the entire Southern California region.”