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[IMGCAP(1)]LOS ANGELES-Four tenants have signed deals for office, industrial and retail space totaling nearly 92,000 square feet in the LA region lately, according to brokers involved in the transactions. Most of the action remains in renewals, but a few firms are consolidating, expanding or moving to new space despite the downturn.

In Santa Monica, Madison Partners Principal Brad Feld notes a rare bright spot in retail leasing with furniture manufacturer Knoll Inc.’s signing of a 124-month, $8.4 million lease renewal for 15,193 square feet of space at 214 Wilshire Blvd. in a building owned by Federal Realty Investment Trust, a REIT specializing in retail properties. “With so many retailers closing stores or going dark throughout the country, we feel like we’ve retained a great tenant at a market rental rate for a long-term commitment,” observes Feld, who represented Federal Realty and also represented the REIT in the original lease with Knoll almost 10 years ago.

[IMGCAP(2)]Knoll is a high-end furniture manufacturer, based in East Greenville, PA that has been a tenant at 214 Wilshire Blvd. for the last nine years. The company will continue to use the space for its Santa Monica office and showroom and plans to invest approximately $400,000 in refurbishments to the space, according to David Prosser, western division vice president for the furniture maker. Knoll was represented by David Kilborn of Grubb & Ellis Co.

[IMGCAP(3)]In a new lease in Burbank, a firm called Preferred Media that provides storage and management of media assets will consolidate several locations with its move to a 46,934-square-foot warehouse at 2777 N. Ontario St., according to Steve Scott, a principal at Lee & Associates-LA North/Ventura Inc. Scott represented Preferred Media in a 10-year lease that the company signed for the warehouse, where the media storage firm will occupy the back portion of the building, consolidating several smaller facilities into the new space.

[IMGCAP(4)]Scott says that finding the right space for Preferred Media was challenging because the firm “required a highly functional space that was close to its existing facility.” The new location is not only directly across the street from its existing facility, it also has the high ceiling heights required for storage, he says. The new Preferred Media space is in a building owned by Second Street Ventures LLC, which was represented by Gregory Geraci, Nico M. Vilgiate and David Harding, senior vice presidents at CB Richard Ellis. Terms of the lease were undisclosed.

In Downtown Los Angeles, the Sullivan Group has signed a five-year, $3.3 million lease for 24,034 square feet of office space for its headquarters at 800 W. Sixth St., according to Madison Partners. Sullivan, a privately held consortium of independent, insurance-related companies that are involved in many facets of the insurance brokerage business, was represented by executive managing director Jonathan Larsen and vice president J.D. DeRosa of Transwestern’s Tenant Advisory Services team. “Given the company’s prime location on the 17th and 18th floors and the current state of the downtown market, it made perfect sense to remain in this building,” Larsen said of the renewal. The landlord, Capital and Counties USA Inc., was represented by John Anthony of Charles Dunn Co.

In West Los Angeles, the law firm of Krohn & Moss has signed a 136-month, $2.5 million lease for 5,808 square feet of office space at 10474 Santa Monica Blvd. in a building owned by Realty Center Management Inc. that was built in 1984 and fully renovated in 2008. Realty Center was represented by Madison Partners principal Peter Best, along with director Dan Baumeister. Best says that the deal illustrates that, “Even though transaction volume has slowed, there are tenants willing to commit to a long term lease to take advantage of rental rates that have come down considerably within the last year.” Krohn & Moss was represented by Andrew Altman of Cushman & Wakefield.

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