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Wednesday, Feb 28, 2024

Companies Expand, Lease New Commercial Space

John DeGrinis and his associates at Colliers International’s Encino office, recently represented Sky High Sports in the lease of an industrial building in Camarillo. Santa Clara-based Sky High Sports operates trampoline fun centers for kids and is expanding in California, Oregon and Washington. Along with Patrick DuRoss and Jeff Abraham, DeGrinis helped the company secure a 41,736-square-foot industrial building that will house one of four fun centers opening in October 2010. The new facilities in Oregon, Washington and Orange County, and Camarillo will double the company’s current number of locations. According to DeGrinis, Camarillo city officials showed overwhelming support for Sky High Sports, which required a conditional use permit to operate the fun center. The 10-year lease of the property at 166 N. Aviador Rd. is valued at $2,651,720. George Eales and Mitch Conlee of DAUM Commercial Real Estate represented the landlord, Marcus Adams Properties, LLC, a private investment real estate firm. Sky High Sports was founded by Jerry and Ron Raymond, who developed the concept from a desire to have a fun, safe place to play with their kids. The fun center offers trampoline dodgeball tournaments and AIRobics classes among other activities. Another company that is expanding is Vallarta Supermarkets Inc. The grocer signed a 75,040-square-foot lease for 20 years at the Simi Valley Plaza in Simi Valley. The Sylmar-based grocer will be an anchor tenant of the shopping center. This is the second largest retail lease in the market so far this year behind the 88,000-square-foot Burlington Coat Factory soon to open in Janss Marketplace. Dave O’Connell and Mike Pakravan from Centers Business Management of Encino represented the owners, Wyoming Partners LLC and Simi Valley Plaza LLC. Gary Seaton of NAI Capital and Jose Nunez of Cal-Prime Realty represented Vallarta. Vallarta opened its original location in Van Nuys in 1985, and is set to open its 30th location later this year. It employs more than 4,700 workers in six different counties. More Transactions Marcus & Millichap Real Estate Investment Services, announced the sale of a 15,041-square foot retail property located in Northridge July 28. The asset commanded a sales price of $850,000. Brandon Michaels, vice president of investments in Marcus & Millichap’s Encino office, had the exclusive listing to market the property on behalf of the seller, a private investor. The firm also announced the sale of a 4,031-square-foot single-tenant net-leased property located in of 21103 Devonshire Street, Chatsworth. The asset commanded a sales price of $2,200,000. This property was constructed in 1998 and consists of 4,031 rentable square feet on a 31,308-square foot lot. The tenant occupying the property is the International House of Pancakes. The buyer, a private investor, was represented by Marty Cohan, vice president investments in Marcus & Millichap’s West Los Angeles office. New Luxury Apartments One of the largest luxury apartment complexes to open in the Valley this year, Empire Landing in Burbank opened for first move-ins on August 1. Located in Burbank’s entertainment and media district at the corner of Buena Vista Street and Empire Avenue, the complex includes 276 craftsman-style, luxury apartment homes set on seven landscaped acres. The residential complex is developed by Casden Properties, which also built the Palazzo Westwood Village and the Palazzo and Villas at Park La Brea. The complex was designed by Johannes Van Tilburg. The apartment selections include one and two-bedroom configurations ranging from 760 square feet to 1,140 square feet. The complex also offers private townhomes with an attached two-car garage. These townhomes offer two, three and four bedrooms as well as live/work space in sizes ranging from 1,120 square feet to 1,585 square feet. There also are 28 affordable flats that have been pre-leased. Starting prices range from $2,200 for a one-bedroom apartment, $2,800 for two bedrooms and $3,400 for townhomes. The project also includes 1,000 square feet of retail space that will be filled with resident-serving convenience shops and a 5,500 square foot club house complete with a full-sized swimming pool and fitness center. Country Club Renovations In what may be considered a sign of economic recovery, Braemar Country Club in Tarzana is finally moving forward with much anticipated multi million dollar renovation plans. The Country Club, a member of the ClubCorp family, broke ground on its new 4,600-square-foot fitness facility slated to open in early 2011. The facility will feature a group exercise studio, premier cardio and strength-training equipment, and training staff. In addition to the fitness center, the multi-million-dollar renovation project includes a remodel of the clubhouse’s bar, grill, and dining area including the addition of an outdoor terrace with fire pits, and renovation of the club’s banquet facilities. Staff Reporter Andrea Alegria can be reached at (818) 316-3124 or at aalegria@sfvbj.com.

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