LEASED – 15748 Arminta Street, Van Nuys

Van Nuys Draws West-Side Transplants for Industrial Leasing.

Ryan McKenzie and Steve McKenzie represented the Lessor in this 5,040 square foot transaction and secured a lease with west-side transplant Rug Ideas represented by an outside broker. The facility will become the new home for the “3rd Generation Full Service Rug Company.” The five year transaction will add a favorable tenant to the 162,000 square foot business park’s tenant mix.

Call for details.

SUBLEASED – 2212 Kenmere Avenue, Burbank

Local Entertainment Consignment Firm Subleases 2212 Kenmere, Burbank.

Ryan McKenzie and Chris McKenzie were able to take advantage of low sublease rates and fulfill a short term immediate need for local entertainment consignment company Techno Empire. Combining two warehouses into one and saving a tremendous square foot cost in the Burbank marketplace was the goal. Ultimately, 25,644 square feet was subleased until the end of the term.

Call for details.

Benchmarking Of California’s Commercial Buildings Implemented 2018

Provided by Pegasus Energy Solutions. See below:

AB 802 Year of the benchmark
AB 802 Benchmarking Unofficial 2017-09-21 v2
AB802 LA ORD 184674 12-15-16 with revision

 

Industrial Market Recap – 3rd Quarter

From Xceligent report: See full article HERE

Market Overview
With a slight uptick in vacancy totaling 1.5% for warehouse distribution, landlords continue to reap the benefit. However, while sale prices are still high, Sales Volume has had a significant decrease over last year’s 3Q. Are prices going to drop? Demand continues to remain high, however pricing may have outpaced consumers.

See Xceligent report HERE

“Avion” Project – Burbank

The new development on the old airport land…

From Burbankca.gov – See Below

The proposed “Avion” project would construct a business park on approximately 60 acres of vacant land adjacent to the Burbank Bob Hope Airport consisting of the following components:

  • Six buildings two stories high for industrial/warehouse uses totaling 1,014,887square feet;
  • Nine buildings two stories high for creative office uses totaling 142,250 square feet;
  • Two buildings one story high for retail/restaurant uses totaling approximately 15,154 square feet;
  • One hotel with 166 rooms;
  • Complete site improvements related to the project including utilities, drainage, paving, landscape, lighting, etc.
  • Extend, improve, and dedicate Tulare Avenue west of Hollywood Way;
  • Extend, improve, and dedicate Kenwood Street south to the future Tulare Avenue.

The project site is located at 3001 N. Hollywood Way, and is surrounded by industrial/storage uses (to the north and east), the Burbank Bob Hope Airport (to the west and south), and vacant parcels. North Hollywood Way abuts the easterly boundary of the project site, and North San Fernando Road is to the north, and Winona Avenue is to the south. The current zoning designations are “General Industrial (M-2)” and “Airport (AP)” and are proposed to change to “Planned Development (PD)” zoning. The project site has two General Plan land use designations, “Golden State Commercial/Industrial” and “Airport” and the entire project site is proposed to be Golden State Commercial/Industrial.

SEE FULL PAGE INFORMATION: HERE