X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SANTA MONICA, CA-The Medical Imaging Center of Southern California has expanded its office space by 6,800 sf under a rent renewal agreement that added three years to its existing seven-year lease.

Bruce Schuman, senior vice president and branch manager with Studley’s Los Angeles office, who along with assistant director Tracci Rowe, negotiated the $4 million deal for the tenant, tells GlobeSt.com that the expansion gives the outpatient center a total of 23,069 sf in the 98,000 sf 2811 Wilshire Blvd. building.

“The Medical Imaging Center continues to experience steady growth, so they saw the current low demand for office space as an opportunity to both expand operations and lock in a favorable lease rate,” says Schuman. “As the largest tenant in the building, MIC was able to accomplish their expansion plan while obtaining below market rental rates.” The center, which has become renowned in neuro, vascular and head and neck imaging, will take 10,000 sf on the first floor of the local building and will occupy the remaining space on the eighth floor, he says. The Chris Strickfaden of PM Realty Group in Los Angeles represented the owner, 2811 Wilshire Associates, in the lease negotiations.

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
  • 1 free article* every 30 days across the ALM subscription network
  • 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 © 2021 ALM Media Properties, LLC. All Rights Reserved.