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8/17/16
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The Los Angeles County Fire Department inked a 10-year, $10.7 mil lease for 37k sf ($2.40/sf/mo) of office space in Monterey Park. The Department plans to take occupancy of the space, located at 1255 Corporate Center Dr, early next year. The building is now 95 percent leased with the completion of this latest lease.
The Fire Department was previously leasing 3k sf of space at the four-story, 79k sf building, situated near its headquarters on the other side of the 710 Fwy, and decided to expand into a larger space. The property is located within LA Corporate Center, a four-building office campus that totals just over 394k sf of office space. LA Corporate Center features extensively landscaped grounds, and dramatic views from its hill-top perch.
Linda Lee, Scott Unger and Bill Boyd of Charles Dunn Company’s Tri-Cities office represented the landlord. The tenant represented itself.
According to Charles Dunn, the Monterey Park office market has a vacancy of less than seven percent and is one of the most popular office markets in LA County. It is experiencing an increase in occupancy due to both expansions from government users and technology firms within the city as well as new companies entering the market.”
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