Axium, which provide financial and accounting applications to arch engineering and design-build firms, is currently located in a two-story class C building in Griffith Park at 5150 Griffith Dr. The newly leased building is a newer one-story flex building at 8705 SW Nimbus.
The space Axium is taking was formerly occupied by Handyman Online. The asking lease rate for the space was $1.10 per sf per month, triple net. Axium is believed to have signed for closer to $1.00 per sf per month, which would put the full service value of the deal in the vicinity of $750,000. The lease commences June 1, 2002. The brokers for Nimbus were Mike Nye and Jeff Falconer. The brokers for Axium were Dave Squire and Brandon Frank of Grubb & Ellis. Mills called on real estate attorney Paul Robeznieks to look over the lease documents.
Mills tells GlobeSt.com the firm will run more smoothly with everyone on a single floor. "It's certainly an upgrade from our current space and the current tenant environment is such that we did it for a relatively little increase in costs," says Mills. To help cover that increase, Mills says the company is building out a computer-laden training facility in the new space that it will make available for daily rental. Moreover, Mills says the deal allows Axium to utilize EOP meeting facilities and conference rooms in buildings around the country, which is beneficial for training new clients on the company's software.
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