NORTH HOLLYWOOD, CA-Scenic Expressions, one of the entertainment industry's leading theatrical transportation and storage providers, has signed a 10-year $7.5 million lease for 135,000 sf of space at a 202,000-sf industrial building. The company's new space, which represents an expansion for the firm and is one of the largest leases this year in the San Fernando Valley, is at 11211 Vanowen St. in a building owned by Shadrall Associates.
Los Angeles-based Scenic Expressions and the landlord were both represented by the team of Greg Geraci, Matt Dierckman and David Harding in the San Fernando Valley office of CB Richard Ellis. The transportation company currently occupies approximately 450,000 sf of office and warehouse space throughout Greater Los Angeles and the San Fernando Valley.
The CBRE brokers report that Scenic Expressions needed the expansion space due to growth at the company, whose new 135,000 sf includes approximately 5,000 sf of office space. The company has already occupied the new space.
The Scenic Expressions lease is one of two recently closed industrial transactions reported by area brokerage offices. In the other, Delphi Business Properties reports that Beverly Hills-based investor/developer Primestor Pacoima LLC Trust bought a 26,388-sf building at 11101 Sutter Ave. in Pacoima for $3.4 million.
The seller, a Los Angeles-based private investor, was represented by Ross Thomas of Van Nuys-based Delphi. The buyer was represented by Marcos Morales of Retail Plus Commercial of Santa Fe Springs.
The concrete tilt-up, dock high facility on Sutter Avenue is currently occupied. Earlier, Primestor acquired the bulk of what was formerly a Price Pfister property located across the street from the newly acquired building.
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