Century City renewal.

Los Angeles-based market research firm Lieberman Research Worldwide Inc. has a renewed its lease at 1900 Avenue of the Stars and will remain in Century City for the next 10 years.

The terms of the deal for 54,875 square feet of space were not disclosed but according to a broker who represented Lieberman Research, the asking rate in the 28-story, Class A building is $3.50 per foot per month.

The deal closed in September with building owner Duesenberg Investment Co., which is owned by billionaire John Anderson.

Construction began two weeks ago on a renovation of Lieberman's space. The company is moving its reception area from the 15th to the 16th floor and will occupy half of the 15th floor and all of the 16th and 17th floors. The work should wrap up by the end of the year, said Mike Catalano, a senior vice president at Studley Inc. who represented the research firm.

During construction the firm is taking temporary space elsewhere in the building. Catalano said that Lieberman looked at other locations before deciding to stay in Century City.

"I think what was compelling was that they had a strong relationship with the ownership," Catalano said. "People say, 'I've been here 15 years, does that buy me anything?' Typically the answer is no. In this case both parties valued each other and the value in the project."

Elsewhere in Century City, asking prices are much higher than $3.50 a foot per month. For example, at 2000 Avenue of the Stars, the asking rate is said to be in the $6 range.

The landlord was represented by Darren Bell of Topa Management Co., another of Anderson's companies.

Staff reporter Daniel Miller can be reached at [e-mail] or [phone], ext. 263.