Josef Farrar and David Kluth, both in Studley's Downtown Los Angeles office, say that ATK Missile will keep its 31,000 sf at 21050 Califa St., where it occupies the entire building. In addition, the defense contractor has pre-leased 74,000 sf in a 179,000-sf building at 21301 Burbank Blvd., now under construction as part of LNR Warner Center, that is scheduled to be completed later this year.
Farrar and Kluth represented ATK Missile in negotiations with its current building owner, Warner Center Properties, and the owner of the under-construction project, Phase III Lennar Partners. The combined consideration for the 31,000-sf renewal and the 74,000-sf expansion is approximately $33 million, according to Studley.
The Studley brokers note that the expansion space is within walking distance of ATK's original facility. ATK has been in the Califa Street space about eight years and had about three months remaining on its lease at the time the new deal was signed.
The company was the former Science and Applied Technology Inc., which was taken over last year by Minneapolis-based ATK Missile Systems, a publicly held aerospace and defense giant. The merged operation became part of ATK's Precision Systems Group.
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