Panavision signs $20 million long-term lease.It will move to Warner Center Dataproducts site In one of the San Fernando San Fernando, city, Argentina San Fernando (săn fərnăn`dō), city (1991 pop. 144,761), Buenos Aires prov., E Argentina. It is a district administrative center in the Greater Buenos Aires area. Valley's bigger lease transactions in recent years, noted cinematography cinematography: see motion picture photography. cinematography Art and technology of motion-picture photography. It involves the composition of a scene, lighting of the set and actors, choice of cameras, camera angle, and integration of special equipment maker Panavision Inc. will relocate its headquarters from cramped Tarzana offices to 152,454 square feet at the current Dataproducts Corp. headquarters complex in Warner Center. The 16-year lease is valued at about $20 million, 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. Panavision's landlord-to-be, Trizec Properties Inc. subsidiary Trizec Warner Inc. Computer printer maker Dataproducts, which sold its 21-acre Woodland Hills headquarters to the affiliate of Montreal-based Trizec Corp. Ltd. in 1990 for $59.5 million, is vacating the approximately 275,000 square feet it had been leasing in favor of more affordable Simi Valley Simi Valley (sē`mē, sĭm`ē), city (1990 pop. 100,217), Ventura co., SW Calif. in an oil, fruit, and farm region; laid out 1887, inc. 1969. . Dataproducts' lease expires next January, five months before Panavision's lease term commences. Panavision has been a leading developer of cinematography cameras and lenses since its founding more than 40 year ago. Over those years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time firm now headed by President John S. Farrand has won 14 Academy Awards. Panavision's current headquarters is at 18618 Oxnard St. in Tarzana, and the firm has also had to expand into some smaller offices in the area. Centralizing sprawl The planned move "was necessitated by our company's continued success and growth," Farrand said. "This new facility will allow us to bring our manufacturing, rental and administrative operations under one roof." Panavision will move to the 6219 DeSoto Ave. building on about 10.5 acres within what's been known as the Dataproducts property. Trizec's 127,260-square-foot office/industrial building at 6200 Canoga Ave., which Dataproducts is also vacating, is yet to be re-leased. Based on the $20 million figure, Warner Center real estate sources calculated that Panavision's rent per square foot is perhaps 25 percent below the "above-market" rate Dataproducts has been paying. Trizec Properties Vice President/Leasing Craig Cahow ca·how n. An earth-burrowing, nocturnal bird (Pterodroma cahow), once abundant in Bermuda but now nearly extinct, with a hooked black beak, brown and white plumage, and a gray underside. Also called Bermuda petrel. handled the lease negotiations internally. Jim Travers of Travers Realty Corp.- who also helped Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. Assurance Co. lease 90,000 square feet at Trizec's Dataproducts property three years ago - represented Panavision in the negotiations. |
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