Los Angeles – May 4, 2016 – CBRE Group, Inc. announced the completion of a lease in Sun Valley, California to SirReel Studio Rentals. SirReel specializes in the leasing of sound stages, grip & lighting equipment, production vehicles, and cast & crew trailers to the entertainment industry. The property consists of nearly 33,000 square feet of warehouse space on more than 100,000 square feet of land.
CBRE’s Greg Geraci and Dave Harding, along with Matt Dierckman and Billy Walk, represented the landlord, Selective Real Estate Investments, a real estate investment company that specializes in industrial and retail properties throughout Southern California and Nevada. The tenant was represented by Mike Centurioni of Coldwell Banker Commercial Alliance.
The property at 8500 Lankershim Blvd. recently went through a major renovation by the ownership. It has street frontage and major pylon signage along both Lankershim Boulevard and Tuxford Street and is located blocks from 5 Freeway, giving it immediate access and close proximity to Burbank. The facility is located in the Burbank/North Hollywood/Sun Valley submarket of the San Fernando Valley.
“Infill locations with functional buildings on oversized yards are nearly non-existent in our market and demand for the property was strong,” said Geraci. “This really was a hand-in-glove fit for SirReel. It will allow the company to consolidate four locations into one mega-facility and offer a one-stop-shop for the entertainment clients in the area.”
First-quarter industrial rental rates rose in the Greater Los Angeles market, according to the latest CBRE research. Over the next 12 months, rents are expected to continue to rise, increasing by 6 percent by year-end 2016.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
CBRE’s Greg Geraci and Dave Harding, along with Matt Dierckman and Billy Walk, represented the landlord, Selective Real Estate Investments, a real estate investment company that specializes in industrial and retail properties throughout Southern California and Nevada. The tenant was represented by Mike Centurioni of Coldwell Banker Commercial Alliance.
The property at 8500 Lankershim Blvd. recently went through a major renovation by the ownership. It has street frontage and major pylon signage along both Lankershim Boulevard and Tuxford Street and is located blocks from 5 Freeway, giving it immediate access and close proximity to Burbank. The facility is located in the Burbank/North Hollywood/Sun Valley submarket of the San Fernando Valley.
“Infill locations with functional buildings on oversized yards are nearly non-existent in our market and demand for the property was strong,” said Geraci. “This really was a hand-in-glove fit for SirReel. It will allow the company to consolidate four locations into one mega-facility and offer a one-stop-shop for the entertainment clients in the area.”
First-quarter industrial rental rates rose in the Greater Los Angeles market, according to the latest CBRE research. Over the next 12 months, rents are expected to continue to rise, increasing by 6 percent by year-end 2016.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
