X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SHERMAN OAKS, CA-Sizzler International Inc., the big restaurant holding company that’s trying to fatten its lean profit margin, has signed a $7-million lease to move its corporate headquarters from LA’s Westside to the Sherman Oaks Galleria.

The 10-year lease will provide Sizzler with 22,402 sf at the Galleria, which is currently in the final stages of a massive renovation. Sizzler’s new space, at 15301 Ventura Blvd., will house the company’s training operations in addition to its headquarters staff.

The move will be completed sometime this fall, a Sizzler official says. The company is currently headquartered in the Culver City submarket of LA’s Westside, where rental rates are higher than in most parts of the San Fernando Valley.

In addition to owning the flagship Sizzler’s chain, the parent company also runs the smaller Pat & Oscar’s restaurant chain in the US and several Kentucky Fried Chicken outlets overseas. Sizzler International’s profits have been squeezed by a variety of factors, including more competition and unfavorable currency-exchange rates.

Tom Festa of Grubb & Ellis’ North Los Angeles office and Mike Hobbsof the firm’s Corporate Services Group represented Sizzler in thetransaction. Tony Acerra and Gina Guarino of Douglas Emmett & Co. represented the landlord, the private Galleria Park Partners LLC of Santa Monica.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.