X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CITY OF INDUSTRY, CA-Three office tenants have signed leases totaling 28,500 sf at Majestic Realty Co.’s Crossroads Business Park, a 110-acre complex of nearly one million sf at the 60 and 605 freeways. The three are Comerica Bank, Kaiser Foundation Hospitals and the law firm of Alvarez-Glasman & Colvin.

Comerica Bank’s deal is a renewal of its lease in the Terrace Building, where the bank signed a 10-year renewal for 11,646 sf. Comerica was represented by Craig DeMiranda of Trammel Crow Co. in Irvine, with Majestic Realty Co. represented internally by David Bui and Josh Wheeler.

Kaiser Foundation Hospitals signed a long-term lease for 9,900 sf, with John Archibald of Grubb & Ellis in Los Angeles representing the tenant and Bui representing Majestic. Alvarez-Glasman & Colvin signed a 40-month lease for 7,000 sf at the Atrium office building to serve as its headquarters. Jim Wynne of Grubb & Ellis in City of Industry represented the law firm, with Majestic represented by Bui and Wheeler.

Terms of the leases were not disclosed. Recent market reports list average asking rates for office space in the City of Industry at approximately $2.15 per sf per month, full service gross.

The 220,000-sf Atrium is the flagship building of the Crossroads Business Park, which includes office, retail and industrial buildings. Plans call for another 200,000-sf office building, with groundbreaking slated for 2007.

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.