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Lee & Associates Transacts 9,018-Square-Foot Office Lease in West Toluca Lake, CA
The producers of "The Biggest Loser" renewed their 9,018-square-foot office lease in West Toluca Lake, CA ., according to Darren Casamassima, a Principal of Lee & Associates-LA North/Ventura, Inc., who represented the landlord in the transaction.
Total value of the lease is just under $1.5 million.
The tenant, 25/7 Productions LLC, whose credits include “The Biggest Loser” and “Shedding for the Wedding”, has occupied the space for the past five years and chose to remain after conducting a comprehensive review of alternatives.
“In the current market, it’s important for landlords to be cognizant of the competitive environment in which everyone is operating,” said Casamassima, who represented the lessor, Dr. Richard Sayegh. “Keeping abreast of the leases transacted in the Media District has helped us to retain our tenants and maintain a 98 percent occupancy rate at the building.”
In addition to the convenience of the location, just minutes from the major studios, the building offers 25/7 full control over its own utilities, an important feature for production companies.
Greg Frankovich, a Director at Newmark Knight Frank, represented the tenant.
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About Lee & Associates - LA North/Ventura, Inc.
Celebrating more than 30 years of leadership in the commercial real estate industry, Lee & Associates®, is the largest broker-owned commercial real estate provider in the nation with 42 offices in California, Arizona, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, South Carolina, Texas and Wisconsin. Lee & Associates-LA North/Ventura, Inc., a member of the Lee & Associates group of companies, provides industrial, office, retail and multifamily/
Founded in Sherman Oaks in 1994, Lee & Associates-LA North/Ventura now operates four California offices including Calabasas, Ventura County and Antelope Valley. For more information, contact us in the San Fernando Valley at 818.986.9800 or visit us online at www.lee-associates.com.