Anthem Inc. is planning to depart from its Los Angeles Warner Center offices in 2019 for a new space nearby. That means a large building will soon be available for lease. In fact, it will be among the largest empty buildings featuring commercial leases in the City of Angels.
The 450-square-foot tower, which stands 14 stories tall, has housed the health insurance company for around 40 years. Its large size makes it seven times the size of the White House. In addition, the 25 acres surrounding the building could be developed in the future.
Once Anthem vacates the tower, which local private investors own, the building will be upgraded and refurbished for brand-new tenants. The office complex to which Anthem is moving stands six stories tall but is only one-third of its current property's size. The lease that Anthem will have at its new location, which was erected 10 years ago, is valued at around $90 million.
A number of business owners in California may be interested in taking advantage of the commercial leases that will soon become available at Anthem's current location. However, going through the process of signing such a lease can be tricky, with the wrong move potentially having adverse financial impacts. Fortunately, an attorney in Los Angeles can review a landlord's lease agreement and assist a business owner in negotiating the lease. The attorney's ultimate goal is to make sure that the aspiring tenant's rights and best interests are protected and fully considered before he or she signs on the dotted line.