Several Leases Signed in Southland Localities
Local brokers report a relatively quiet commercial leasing scene this fall but all is not dead. In Seal Beach, lock maker Masco Corp. is leasing 40,000 square feet of office space from the Bixby Ranch Co. in a 10-year contract worth more than $10 million.
The company plans to relocate 130 employees from Long Beach to the Bixby Office Park at Old Ranch early next year. Gregory Gill and Robert Alperin of Matlow-Kennedy represented the tenant in lease negotiations. Steve Reaume of Cushman Realty Corp. represented the developer.
At the Cerritos Towne Center, Canadian computer firm System House signed a 10-year, $10.5-million lease for 42,000 square feet. Coldwell Banker represented the tenant and Tim Stilley of Grubb & Ellis Commercial Real Estate Services represented landlord Transpacific Development Co.
In downtown Los Angeles, U.S. Bancorp Financial Inc. is relocating from the Jewelry Mart on Hill Street to 20,000 square feet at Figueroa Plaza.
Tony Acerra of Jones, Lang, Wooton Realty Croup represented U.S. Bancorp in the 10-year, $6-million lease. David Cushman and Peter Berrington of Cushman Realty Corp. represented owners Raffi Cohen Industries and Melvin Simon & Associates Inc.
And in West L.A., Apple Computer announced plans to take 46,000 square feet at Bramalea California Inc.’s just completed 600 Corporate Pointe tower. The 270,000-square-foot building cost $22 million and is Bramalea’s sixth within the 35-acre Corporate Pointe near the San Diego Freeway and Slauson Avenue. Coldwell Banker represented Apple in the five-year, $5.5-million lease. WESTMAC Commercial Brokerage Co. represented the developer.
