The six companies include auto insurance firm Progressive, Silverstate Mortgage, J.P. Morgan Chase, Alliance Title, Glenoaks Escrow and Stoneridge Escrow. Five of the six have moved into the development, with the sixth, Silverstate, slated to occupy its building this month. Each of the leases is for approximately five years, with asking rates at about $2.80 per sf per month.
The new Opus project borders the Valencia Country Club and is part of a larger Valencia Gateway project that totals more than 5,000 acres and 23 million sf in one of the largest master-planned business and industrial centers in Los Angeles County. The Opus project features two three-story steel frame buildings providing parking at a ratio of four cars per 1,000 sf of office space, with an additional 90 covered spaces in a parking structure.
Opus was represented in all six leases by Doug Marlow and Dave Solomon of CB Richard Ellis, the listing agents for the project. In addition to the leases that have been signed, Opus has approximately 35,000 sf of space out for signature in other deals.
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