Rising's PacMutual Lands Big Legal Lease
Chris Rising (snapped here with father and Rising Realty Partners chairman Nelson Rising) tells us the firm has inked a deal to bring Hueston Hennigan to its PacMutual campus in DTLA. The law firm has taken 21k SF at the property, bringing it up to 95% leased. Chris tells us the building has evolved exactly as planned, implementing a lifestyle office concept, which has been able to attract a variety of tenants, most notably NastyGal. The law firm was just formed in January after John Hueston and Brian Hennigan left Irell & Manella in Century City.
Rising Realty bought PacMutal for $60M with NY financial partner Mount Kellett Capital. The firm then spent some $25M on the repositioning, which has made the campus quite the attraction. It now commands the highest prices in DTLA, according to data Bisnow compiled with Colliers. JLL LA team members Mike McKeever, Nicole Mihalka and Jordan Gaffney repped the law firm, and Industry Partners' Carle Pierose repped Rising.
