Time Warner Entertainment Co.'s Home Box Office network agreed to keep its big Los Angeles office at the Century Plaza Towers for at least 11 more years.
The premium cable channel expanded its lease commitment within Century City's signature complex to a total of about 123,000 square feet. Financial details of the 135-month lease weren't disclosed, but Westside real estate sources estimated the deal is valued at about $60 million.
HBO's facilities are scattered on several floors; the renewed and expanded lease covers the equivalent of about five floors of offices in the twin 44-story towers' southern building.
Jim Travers and Howard Feuerstein of Travers Realty Co. negotiated on the tenant's behalf. The Trammell Crow Co. team headed by Peter Best that leases and manages Century Plaza Towers negotiated on behalf of the landlord, an investment fund managed by an affiliate of J.P. Morgan Chase & Co.