Printer Friendly
The Free Library
4,631,493 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

SPACE FILLING UP AT WEST HILLS BUSINESS PARK LEASES BEING SIGNED FOR WEST HILLS SPACE.


Byline: Gregory J. Wilcox Real Deals

WEST HILLS - The former Hughes Aircraft Hughes Aircraft Company was a major aerospace and defense company founded by Howard Hughes. The group was based near Ballona Creek, in Culver City, California, USA, on the Pacific Coast.

Hughes Aircraft was acquired by General Motors in 1985.
 Co. guided missile guided missile, self-propelled, unmanned space or air vehicle carrying an explosive warhead. Its path can be adjusted during flight, either by automatic self-contained controls or remote human control.  facility at the base of the Santa Susana Mountains The Santa Susana Mountains are a transverse range of mountains in southern California, north of the city of Los Angeles, in the United States. The range runs east-west separating the San Fernando Valley and Simi Valley on its south from Santa Clara River Valley to the north and  in the west 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.
 is proving to be quite a draw for Fortune 500 companies.

Already home to a DeVry Institute of Technology campus, West Hills Corporate Village now or will soon be displaying the corporate logos of units of Xerox Corp., Pitney Bowes This article or section is written like an .
Please help [ rewrite this article] from a neutral point of view.
Mark blatant advertising for , using .
 and PageNet.

And Boeing Co., which a year ago took a $35 million lease on 170,000 square feet of space for 10 years, has signed up for more, says developer Regent Properties of Beverly Hills Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. .

Boeing's Rocketdyne Propulsion and Power Division has just taken a 24,000 square foot chunk of space at the complex, where it will do research and development of defense and aerospace laser and electro- optics.

It's part of four recent deals that totaled 62,000 square feet of space, said Doug Brown Doug Brown may refer to one of the following people:
  • Doug Brown (football player), a former football player in the NFL and current player in the CFL
  • Doug Brown (ice hockey), a former ice hockey player in the National Hockey League
, Regent's managing partner.

The business park is now 75 percent leased, with roughly 160,000 square feet of space remaining, Brown said.

This is a pretty quick fill-up, considering that the project started two years ago.

Brown is not surprised.

``There is not much of this product in the San Fernando Valley, a low-rise corporate campus with a beautiful outdoor environment,'' he said.

Bob Shafer and Bill Inglis Bill Inglis (born May 11, 1943, in Ottawa, Ontario) is a former professional ice hockey centre. He played 36 games in the National Hockey League: 22 with the Los Angeles Kings and 14 with the Buffalo Sabres.  of CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2.  represented Boeing in the transaction.

Other recent deals for West Hills space include:

--Xerox Corp. moving its West Valley business office into 17,177 square feet of space. The company had been leasing 30,000 square feet in Warner Center. Company spokeswoman Christa Carone said the move will help the company better showcase its products. About 80 people will work at the facility.

Value of the 10-year lease was not disclosed. Chris Cooper Famous people called Chris Cooper include:
  • Chris Cooper (actor) - American actor
  • Chris Cooper (football player) - NFL player
 of Jones Lang La Salle represented Xerox.

--Vast Wireless Systems, a unit of PageNet, the pager company, will be taking 10,000 square feet of space for 10 years. The company was represented by Jim Ardell of Jones Lang La Salle. Vast Wireless is relocating from Calabasas.

--Pitney Bowes is consolidating its mailing systems division to the West Hills Corporate Village from the 5900 block of De Soto Avenue in Woodland Hills. The company had 7,060 square feet of space and is expanding to 11,000 square feet.

The value of the company's five-year lease was not disclosed.

Jonathan Larsen of Trammell Crow Co. represented Pitney Bowes in the deal.

BROKER BUZZ

--Investors continue to exhibit a strong commitment to commercial property around the Valley as properties in Sylmar have sold for about $4 million.

The Werth Trust paid $1.8 million for a 30,000-square-foot, three- building complex at 12341 Gladstone St.; the Wood Family Trust paid $790,000 for a 12,260-square-foot building at 12953 Foothill Blvd.; and Rush Trucking paid $1.9 million for a building at 12985 Foothill Blvd.

Steve Stubblefield of Westcord Commercial Real Estate Services in Van Nuys represented the seller, whose identity was not disclosed. Levin Tamura and Chris Sullivan of Daum Commercial Real Estate Services represented Rush Trucking and the Werth Trust. Stubblefield also represented the Wood Family Trust.

--Bigness counts, especially when numbers are being totaled. A good example is the Disney Concert Hall being built 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 . The privately funded, $172 million project helped push the value of permits for private nonresidential building in California for November to $1.394 billion, said the Burbank-based Construction Industry Research Board. This is the highest November total since 1988's $41.77 billion, when adjusted for inflation.

Research board director Ben Bartolotto said that the figure is unusual because November normally brings a drop-off in activity. Looks like when 1999's totals are calculated, it will turn out to have been a very big year indeed.

During the first 11 months of 1999, private nonresidential building by itself totaled $15.07 billion, up $1.166 billion, or 8.4 percent, from the comparable period a year earlier.
COPYRIGHT 2000 Daily News
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Business
Publication:Daily News (Los Angeles, CA)
Article Type:Statistical Data Included
Date:Jan 16, 2000
Words:668
Previous Article:DOLLS OF THE VALLEY; SHERMAN OAKS SPECIALTY SHOP BUYS, SELLS AND MAKES REPAIRS FOR INTERNATIONAL CLIENTELE AND YOUNG AT HEART DOLL SHOP CATERS TO...
Next Article:TIPOFF; GORE'S VISIT TO CALIFORNIA FORGETS BASICS.(Viewpoint)



Related Articles
Westside opportunities continue to lure office tenants from Mid-Wilshire, downtown L.A. (Special Report: Westside)
Downtown L.A. holds steady despite sublease glut; Mid-Wilshire office transplants help to offset losses. (Los Angeles, California) (Special Report:...
Westside leasing surges after landlords slash rents; owners, lenders and tenants will restructure in 1993. (West Los Angeles, California) (Special...
Westside office market still slow but vacancy dips in third quarter. (Los Angeles, California) (Special Report: Quarterly Real Estate) (Industry...
San Fernando Valley office market sputtering.(Special Report: Real Estate Quarterly)
Major tenants moving to alternate properties nearby. (San Fernando Valley, California)(Real Estate Quarterly)
Owners antsy to fill space lower rates.(West San Fernando Valley office real estate market data, California)(Brief Article)(Statistical Data Included)
Big transactions may be sign of office market rebirth.(Real Estate)
County vacancies declining as westside office market sizzles.(Los Angeles County)
High rents, low vacancies keeping it a landlord's market.(WESTSIDE)

Terms of use | Copyright © 2008 Farlex, Inc. | Feedback | For webmasters | Submit articles