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ENCINO, CA-Video game developer Infinity Ward has signed a seven-year, $7 million lease renewal and expansion to keep up with its growing business, according to Cushman & Wakefield. Ted Simpson of Cushman & Wakefield, who represented the video game developer, reports that Infinity previously occupied 10,000 sf at Encino Terrace Center but has expanded to 35,000 sf to accommodate its growth. The Encino Terrace Center, at 15821 Ventura Blvd., is a 417,257-sf class A office project owned by Douglas Emmett & Co., which was represented internally by Gina Guarino in the Infinity lease.

Simpson says Infinity’s expansion is an indicator of the booming video-game industry, which is bringing business and jobs to San Fernando Valley. The new jobs, in turn, are boosting demand for space from companies like Infinity. Vacancy rates are very low in Encino and Sherman Oaks, Simpson adds, so there are very few alternatives for office space in the range of 35,000 sf.

Without the downsizing of PeopleSoft, the previous occupant of the space, and its subsequent acquisition by Oracle, the expansion space that Infinity has signed for would not have been available, Simpson says. He cites the most recent Cushman & Wakefield research, which shows Encino’s overall vacancy rate for office space at 7.2%, lower than the Los Angeles North area’s 9.5% and considerably lower than the L.A. County vacancy rate of 14.1%.

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