Leases Consolidate Regents, Lens Maker

David Gordon and Craig Jablin of Studleys Los Angeles office represented the Regents, who signed a seven-year lease for 30,000 sf in two locations at 11075 Santa Monica Blvd. and 1640 Sepulveda Blvd. that consolidated three facilities. The new lease is effective April 1. Landlord Arden Realty was represented internally by Troy Holme.

Gordon says the Regents secured a below-market early renewal combined with an immediately available tenant improvement package, along with a number of other concessions, including a lease termination option for both buildings in the event landlord cannot provide space to accommodate both groups in one building; and a lease takeover of the regents remaining obligation.

In the Van Nuys transaction, Rosey Miller, Eric Moore and Jason Green of Studley's West Los Angeles office represented Schneider Precision Optics, a leading motion picture lens manufacturer based in Germany, which signed a 15-year for 24,955 sf at 7701 Haskell Ave. Schneider previously occupied two separate buildings but will reduce costs by consolidating its regional headquarters, sales offices, R & D space, shipping and manufacturing plants into one facility. The new lease includes two five-year options and saves Schneider approximately 40% in the cost of rent, the Studley brokers say. The building owner, a private individual, was represented by Greg Geraci of CB Richard Ellis.