Northrop Grumman Corp.

Marketing giant Interpublic Group leasing big space in Century City

Marketing giant Interpublic Group is moving to Century City and leasing a huge chunk of space that has been vacant since Northrop Grumman Corp. moved its corporate headquarters to Virginia.

IPG, a New York holding company, signed an 11-year deal for 150,000 square feet at 1840 Century Park East and an adjacent tower, according to brokerage Newmark Grubb Knight Frank, which represented IPG. About 700 employees are relocating.

Newmark called the deal the biggest relocation into Century City since 2004, when Creative Artists Agency announced its move to 2000 Avenue of the Stars, a new office building.

IPG and Newmark declined to disclose the value of the lease, but a real...