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Chatsworth Space Expands Panavision Focus

Panavision Federal Systems, the division of movie-camera maker Panavision Inc. that manufactures equipment and software for the government, has moved into larger offices in Chatsworth. The 22,775-square-foot space at 9340 DeSoto Ave. is a big expansion for the division, which previously leased 5,500 square feet in the Warner Corporate Center in Woodland Hills. Financial terms were not disclosed, but the lease length is three years. Other tenants in the Chatsworth building include a Sears, Roebuck & Co. marketing center, Pacific Toxicology Laboratories and audio/video equipment manufacturer Krk Systems LLC. The Federal Systems division makes infrared lenses, compound zoom lenses and other sophisticated products for both civilian and military government use. Parent company Panavision is headquartered at a 147,000-square-foot manufacturing and office facility at 6101 Variel St. in Woodland Hills. It has done quite a bit of shuffling in the last year, only completing its move to Variel Street in August. It sold its previous headquarters at 6219 De Soto Ave. to Houston developer Dinerstein Cos. The building has since been demolished to make way for a multi-family housing project. Brock Burnett, associate at the Encino office of Colliers International, said the Chatsworth lease will help tie Panavision to the San Fernando Valley. “This lease represents a success story for Valley office-industrial space,” Burnett, who represented Panavision in the deal, said in a statement. “Panavision has been a mainstay in the northwest part of the Valley for many years now, and their continued expansion and presence is a very positive sign that tenant retention and vacancy reduction is prevalent in the Valley.” Burnett said the Panavision division will be consolidating several area offices into the new space. Jeff Albee and Jeff Gould, both of Colliers’ Encino office, also represented Panavision. Scott Caswell of Delphi Business Properties Inc. in Van Nuys represented the landlord, Northeast Valley Industrial Parks LLC. Getting a Move On The Shoppes at Westlake Village, a retail center being constructed by Selleck Development Group Inc., is adding to its growing tenant roster. Total Woman Gym and Spa has signed a 15-year lease to occupy a 14,000-square-foot second-floor location, according to Stephanie Skrbin and Paul Capra of Lee & Associates-LA North/Ventura, who represented the landlord in the deal. Financial details were not released. The deal follows the December sale by Selleck of 10.3 acres at the center to Minneapolis, Minn. retailer Target Corp. for an outlet scheduled to open in March 2014. When the stores are complete, the gym will relocate from its current Westlake Village location at 966 S. Westlake Blvd. The gym plans to roll out a more upscale look at its new 30800 Russell Ranch Road location, Skrbin said. “Their lease is expiring at their current location, and I think they were really looking for a new location to coincide with that launch of a new look,” she said. The gym will move in March of next year, which will coincide with the opening of the Target. Construction on the building will begin in early summer, Skrbin said. Ken Shishido of Wilson Commercial Real Estate’s Los Angeles office represented the gym in the lease. Updating Warner Center The Warner Center 2035 Plan, which outlines growth plans for the Woodland Hills neighborhood through 2035, is expected to go before the Los Angeles City Council this week for approval. The plan, approved by the city’s Planning and Land Use Management Committee at a Feb. 19 hearing, is expected to sail through the Council. The guidelines, which update the 1993 Warner Center Specific Plan, are designed to encourage the development of a more downtown feel for the area. It calls for additional public transit hubs, limitations to billboards in some areas and walkways to break up the large boulevards that limit walking. It is roughly bound by the L.A. River, the Ventura (101) Freeway, De Soto Avenue and Topanga Canyon Boulevard. This is an expansion of the boundaries from the 1993 plan. Staff reporter Kelly Goff can be reached at (818) 316-3135 or [email protected].

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