Miramax's Jonathan Glickman with 1041 North Formosa Avenue (Getty, CIM Group)

Century City has become a “flight to quality” draw for office tenants in Los Angeles, but not necessarily for Hollywood studios. Miramax is abandoning its Century City headquarters for West Hollywood.

The TV and film production unit of Paramount Global and Qatar-based beIN Media Group has inked a lease for 16,000 square feet of offices in The Lot at Formosa at 1041 North Formosa Avenue, according to the Hollywood Reporter. Miramax expects to move in this month.

Terms of the deal with owner CIM Group, based in Mid-Wilshire, were not disclosed.