LOS ANGELES-A locally based telecommunications related firm has inked a lease renewal to take 27,434 sf of space in the San Fernando Valley’sImperial Bank Building.

The renewal will allow Telecom Network Inc. to move from its current space at 15233 Ventura Blvd. into a larger area at 15303 Ventura Blvd. Based on current leasing rates in the area, the 10-year lease is valued at nearly $7 million.

The LA offices of the Staubach Company represented the tenant. The building owner, Galleria Park Partners LLC was represented by LA-based Douglas Emmett & Co.

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