According to Lee Black of the Los Angeles office of Newmark, who represented Point.360, the firm will consolidate its warehouse and storage operations to this building from four other leased sites. Point.360 provides post-production and distribution needs to large studios, networks and advertising agencies.
Black points out that the transaction will enable Point.360 to increase flexibility and reduce real estate costs. The lease includes an option for the firm to buy the property, which is a flex industrial building that was completed in 2001 and is undergoing interior improvements to accomodate Point.360. The new tenant expects to move into the building in February.
Sellers AMB and Legacy were represented by Mark Perry, David Harding, Carlene O'Neill, Kevin Duffy and Peter Poulson of CB Richard Ellis.
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