Major tenants moving to alternate properties nearby.A few major San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. commercial tenants have announced plans to relocate - but they're not really going anywhere. The tenants are merely moving to other Valley locations. "The San Fernando Valley is a good place to be," said Forrest Blake, a senior broker with Travers Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Corp. "People already located in the Valley are staying local, and we are continuing to see people locate here from out of the area." Grubb & Ellis Co. data show tenants occupying 162,378 more square feet of Valley office space at the end of the second quarter than at the beginning of the quarter. That additional occupancy caused the Valley's overall office vacancy rate to ratchet-down to 11.5 percent. a slight improvement from 12 percent three months earlier. One of the bigger Valley commercial real estate events of the quarter was CareAmerica Health Plans' announcement that it is relocating from the Trillium trillium or wake-robin (trĭl`ēəm), any plant of the large genus Trillium, attractive spring wildflowers of the family Liliaceae (lily family), native to North America and E Asia. complex in Woodland Hills. It is among the first to sign a lease for the West Hills Corporate Village - a campus-style development being built on the site formerly occupied by Hughes Missile Systems. The health care company signed a 10-year, $35 million lease for 162,000 square feet. Regent Properties Inc. and Shamrock Holdings Shamrock Holdings is the firm founded as the Roy E. Disney family investment firm and the Disney family remains a key investor. Roy is its chairman, and Stanley Gold its President/CEO. Shamrock owns a number of assets including hotels and radio and television stations. Inc. jointly own the 30-acre office park, and plan to renovate existing space and build new space before CareAmerica and other tenants move in next year. The total facelift and construction are expected to cost about $100 million. Other tenants to the complex will include the Los Angeles Police Department "LAPD" and "L.A.P.D." redirect here. For other uses, see LAPD (disambiguation).  This article or section is written like an . , which is basing its 911 emergency communications center An Emergency Communications Center, or ECC, is the nerve center of an area's emergency services. Resources in the field communicate, often via radio, mobile data terminal, or mobile phone, to dispatchers who then effectively manage the emergency resources for the area. there, and the DeVry Institute.
The vacancy rates of all Valley office submarkets improved slightly during the second quarter, with the exception of the Central Valley submarket sub·mar·ket n. A geographic, economic, or specialized subdivision of a market. adj. Being below what is usual in a particular market: submarket wages; submarket interest rates. , which saw its vacancy rate rise by six-tenths of a percentage point to 14.4 percent. The East Valley continues to enjoy the lowest vacancy rate in all of L.A. County, at 4.8 percent, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Grubb & Ellis. The West Valley saw the most dramatic improvement among the Valley submarkets during the second quarter, with vacancy there dropping to 14.3 percent, almost a full percentage point drop from its 15.2 percent level three months earlier. DreamWorks SKG SKG Stichting Kwaliteit Gevelbouw (Dutch) SKG Spielberg, Katzenberg,and Geffen (DreamWorks Studios) SKG Thessaloniki, Greece - Thessaloniki (Airport Code) SKG Smith and Kraus Global has been expanding throughout the San Fernando Valley, including into a Chatsworth facility formerly occupied by Sanyo Fisher Co., which relocated about four months ago to another Chatsworth location. DreamWorks leased a 124,418-square-foot office building to house general administration, production and storage operations. The building is located at 21350 Lassen St. On the east side of the Valley, development plans for the former General Motors plant in Van Nuys firmed up during the second quarter, with co-developers Selleck Development Group Inc. and the Voit Cos. announcing that their project would break ground within the next few months. The 100-acre site has been zoned for a 30-acre industrial park and 356,000 square feet of new retail space on the 36-acre western portion of the property. But the news wasn't all good for Van Nuys during the second quarter. Familian Corp. announced it will relocate from its longtime long·time adj. Having existed or persisted for a long time: a longtime friend; a longtime resident of Detroit. longtime Adjective headquarters there to Pomona by early next year. Familian, which operates 23 Familian Pipe and Supply showrooms around Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , plans to move its administrative office into a new regional shipping center in Pomona. The company - which currently leases 28,000 square feet in Van Nuys - will move into a 300,000-square-foot facility in Pomona. However, Familian will still maintain a 40,000-square showroom in Van Nuys. Major Events * CareAmerica Health Plans signed a $35 million lease to move into the West Hills Corporate Village - a campus-style business park being developed by Regent Properties Inc. and Shamrock Holdings Inc. on the former site of Hughes Missile Systems. * DreamWorks SKG leased a 124,418-square-foot office building in Chatsworth to house its general administration, production and storage operations. * Familian Corp. announced it will relocate its Van Nuys administrative offices to a new regional shipping center in Pomona sometime next year. |
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