Press Release

Studio Props Company Signs Nearly 90,000-Square Foot Lease in North Hollywood, CA for $5.6 Million

20 12 2018

fauxpost

Los Angeles – CBRE announced a studio props company has leased 89,452 square feet of space in North Hollywood, CA for $5.6 million. The company is relocating from a nearby location in Hollywood.

CBRE’s Matt Dierckman, Dave Harding, Greg Geraci and Billy Walk represented the landlord in the transaction. The tenant, Faux Library Studio Props, Inc., a library-themed, studio props provider, was represented by Christopher Mckenzie of Delphi Business Properties.

The free-standing building, located at 11501 Hart Street, features 11,861 square feet of office space, 10 ground-level doors, high power and vintage-style aesthetics. The property sits in the heart of North Hollywood at the cross street of Tujunga Avenue and Sherman Way and is in proximity to the 170 and 5 freeways.

“This is a perfect fit for the tenant as they were looking to stay in the North Hollywood area to better service neighboring entertainment companies,” said Dierckman. “The space provides everything needed for this unique kind of company to operate efficiently and meet the needs of its customer base.”

While e-commerce users are typically absorbing this type of space in the greater Los Angeles area, North Hollywood, in particular, attracts tenants that need extra space to store large, rental-type items and equipment to meet the demand of entertainment-related studios and companies. According to CBRE research, the alternative use of industrial facilities such as studios or creative space has increased the rents and sales values in certain pockets of Los Angeles.  
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.