|Arvato Digital Services has renewed its lease at a 165.1k sf industrial property in Valencia. The new five-year deal is worth $6.3 mil, or about $0.64/sf/mo.
The property is located at 29011 Commerce Center Dr, west of I-5 at Witherspoon Pkwy. The building is state-of-the-art, constructed in 2000 and offers such features as 28-foot minimum clearance, 2000 amps of power, 20 dock high positions and approximately 30k sf of high-image office space.
John DeGrinis, SIOR, senior executive vice president, Patrick DuRoss, associate vice president, and Jeff Abraham, senior associate, all based in Colliers Internationalís Encino office represented Arvato, a fully integrated subsidiary of Bertelsmann AG, the German publishing giant. The landlord, Sares Regis Group, was repped by Craig Peters of CB Richard Ellis.