2 Tenants Take Advantage of Free Rent Offer

Two floors of the newly renovated 770 Wilshire Building at the southeast corner of Wilshire Boulevard and Flower Street have been leased to tenants taking advantage of a one-year free rent offer.

The tenants are the Hong Kong & Shanghai Banking Corp., a Hong Kong-based banking organization with offices on the eighth floor, and Pacifico Creative Services Inc. (also known as JALPAK), an affiliate of Japan Airlines and several Japanese travel agencies, that will move from Broadway Plaza to the seventh floor. JALPAK is based in Tokyo.

The companies saved a total of more than $500,000 on the offer for 10-year leases valued at nearly $6 million, according to James Travers of Travers Realty Corp., which represented both tenants. Helmsley-Spear of California Inc. is the agent for the building, formerly known as the Wells Fargo Building.

Two full floors of 11,474 square feet each remain available under the free rent plan--an arrangement that could realize savings of more than $275,000 a floor, according to Helmsley-Spear.