Cushman Realty Corp. Closes $65 Million Lease Transaction for Princess Cruises' World Headquarters.LOS ANGELES--(BUSINESS WIRE)--June 22, 1999-- Cruise Line A cruise line is a company that operates cruise ships. Cruise lines have a dual character; they are partly in the transportation business, and partly in the leisure entertainment business, a duality that carries down into the ships themselves, which have both a crew headed by the to Expand to 271,000 Square Feet for New Headquarters and Expanded Customer Service Center Cushman Realty Corp., an internationally recognized real estate brokerage firm, announced Tuesday the completion of a 15-year, $65 million lease transaction on behalf of Princess Cruises Princess Cruises is an American cruise line, based out of Santa Clarita, California, that operates cruise ships also shares the same building with Cunard Line headquarters. It is one of the many cruise lines operated by the Carnival Corporation. . The transaction represents a 163,000 square foot expansion of Princess Cruises' 108,000 square foot existing space, which will allow the cruise line to expand the customer service center and relocate their corporate headquarters from Century City, Calif., to two new office buildings to be constructed by Newhall Land in the Town Center area of Valencia, Calif. John C. Cushman III John C. Cushman, III ia an American real estate developer. He is chairman of Cushman & Wakefield, a global real estate services firm. Cushman joined Cushman & Wakefield Inc. in New York, NY in 1963 and then opened an office in Los Angeles in 1967. , president and chief executive officer of Cushman Realty, Andrew D. Ratner, executive vice president and national director of real estate services, and Michael N. Burlant, vice president, represented Princess Cruises in the transaction. "The Princess Cruises' move represents the largest corporate headquarters relocation to the Valencia area. This is a milestone transaction that further reinforces the favorable economic environment that companies are finding in the Santa Clarita Valley The Santa Clarita Valley is the valley of the Santa Clara River in Southern California. It stretches through Los Angeles County and Ventura County. Its main population center is the city of Santa Clarita. The valley was part of the 48,612-acre (19,672. ," said Cushman in making the announcement. The relocation of the firm's corporate headquarters to the Santa Clarita Valley follows the fall 1998 relocation of approximately 750 of the company's employees to the new customer service center. Upon the completion of the new headquarters in spring 2001, a total of approximately 1,500 employees will be based in Valencia. In total, Princess Cruises will be located in three separate but adjacent buildings in the Valencia Town Center area, occupying not only their existing six-story building, but also separate five- and four-story buildings, for a total of approximately 271,000 square feet. With headquarters in downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or , Cushman Realty is an internationally recognized real estate brokerage firm specializing in office leasing, investment services and consulting. Founded in 1978, the firm also maintains offices in West Los Angeles
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and Washington, D.C. The firm's corporate headquarters are located at 601 South Figueroa St., Los Angeles, 90017. The phone number is 213/627-4700. |
|
|||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion