LA-Z-Boy, Ad Agency Ink Leases

In the LA-Z-Boy transaction, the furniture company signed a 15-year, $3.4 million lease for 16,119 sf in a retail building at 28565 Marguerite Parkway in Mission Viejo.

Kenneth Shishido of Lee & Associate's LA North/Ventura office, and Ken Gould of the firm's Newport Beach office, represented LA-Z-Boy Furniture Galleries. The landlord, Adobe/Avery Parkway LLC, was represented by David Howard and Daniel Bradley of Resource Commercial Real Estate.

In addition to its prime location, located just off the 5 Freeway, the building was a better fit for the tenant's needs, Shishido says. In the Casanova Pendrill transaction, the ad agency will move its headquarters from Irvine to Costa Mesa after signing a long term-lease with the owners of Redhill Corporate Center in a transaction valued at $1.9 million.

Casanova, which is one of the largest Hispanic advertising agencies in the United States, will relocate to 275 McCormick Ave. from 3333 Michelson Drive, where it has been headquartered for the past 16 years. Under the terms of the lease, the advertising firm, whose clients include America Online, General Mills, Kohl's, Pillsbury and Johnson and Johnson, will occupy 17,716 sf, bringing the occupancy of the 31,689-sf, two building campus office complex to 100%. Red Hill Corporate Center, a former warehouse property converted into low-rise office campus in 2001, also serves as the headquarters for Rauxa Direct, a direct marketing agency.

Rich Essen and Paul Root of Cushman & Wakefield in the firm's Irvine office represented Casanova. The landlord, TAVP Properties, LLC, was represented by Phil Cohen of CB Richard Ellis.