24/7 Events Inc., a rental company for corporate and sporting events, has leased 50,930 square feet at a newly constructed industrial property in the Valencia Commerce Center complex.
CBRE Group’s Craig Peters represented the landlord, Ground Up Properties 3 & 4, a local development and investment company, on the transaction, while CBRE’s Matt Dierckman represented the tenant.
The Class A industrial building — at 27788 Hancock Parkway in Valencia — stands at the entrance to Valencia Commerce Center and is located adjacent to highway 126, with easy access to the 5 freeway.
24/7 rents tents, tables, seating and catering equipment for events, in addition to transportation and live entertainment services.
With the start of the 24/7 Events lease, which commences in April, Valencia Commerce Center will have 98 percent occupancy.