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Friday, Dec 1, 2023

Party Rental Company Signs 60,000-Square-Foot Lease in Valencia

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.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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