MPG Office Trust Completes Lease Extension With Gibson Dunn & Crutcher LLP
MPG Office Trust, Inc. (NYSE: MPG), a Southern California focused real estate investment trust announced that it has executed a five-year lease extension with Gibson Dunn & Crutcher LLP, a prestigious international law firm ranked in the top 20 by American Lawyer.
Gibson Dunn & Crutcher LLP occupies approximately 268,000 square feet at Wells Fargo Tower in the Bunker Hill area of downtown Los Angeles and the new lease expiration date is November 2022.
David Weinstein, the Company’s President and Chief Executive Officer commented, “Gibson Dunn’s request for an early lease extension is a testament to their commitment to downtown Los Angeles. We are delighted that they will continue to maintain one of their largest offices at Wells Fargo Tower through 2022.”
About MPG Office Trust, Inc.MPG Office Trust, Inc. is the largest owner and operator of Class A office properties in the Los Angeles Central Business District. In addition to the 1.4-million-square-foot Wells Fargo Tower, MPG also owns and controls over 4 million square feet within KPMG Tower, US Bank Tower, Gas Company Tower and 777 Tower. MPG Office Trust, Inc. is a full-service real estate company with substantial in-house expertise and resources in property management, leasing and financing. For more information on MPG Office Trust, visit our website at www.mpgoffice.com. Business Risks This press release contains forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, without limitation: risks associated with our liquidity situation, including our failure to obtain additional capital or extend or refinance debt maturities; risks associated with our failure to reduce our significant level of indebtedness; risks associated with the timing and consequences of loan defaults and non-core asset dispositions; risks associated with our loan modification and asset disposition efforts, including potential tax ramifications; risks associated with our ability to dispose of properties with potential value above the debt, if and when we decide to do so, at prices or terms set by or acceptable to us; general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases at favorable rates, dependence on tenants’ financial condition, and competition from other developers, owners and operators of real estate); risks associated with the continued disruption of credit markets or a global economic slowdown; risks associated with the potential loss of key personnel (most importantly, members of senior management); risks associated with joint ventures; risks associated with our failure to maintain our status as a REIT under the Internal Revenue Code of 1986, as amended, and possible adverse changes in tax and environmental laws; and potential liability for uninsured losses and environmental contamination.
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