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1/26/16
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Torres Martinez Desert Cahuilla Indian Tribe recently inked a lease for 24.4k sf of office space in the San Gabriel Valley city of Monterey Park. The 126-month deal is valued at about $8 mil, which averages out to $2.60/sf/mo.
The tenant will use the space for its administrative offices. The property is located at 900 Corporate Center Dr, just east of I-710 between the I-10 and the 60 Fwy.
The 900 Corporate Center Drive building is a six-story, office property totaling approximately 116k sf of space. With this latest deal, the building is now 94 percent leased. It is situated within LA Corporate Center, which consists of four office buildings totaling just over 394k sf ofspace.
Linda Lee, Scott Unger and Bill Boyd of Charles Dunn Company’s Glendale office represented the landlord. Steve Seinfeld of Cresa repped the tenant.
“The tenant sought out and compared other office buildings in the area and found 900 Corporate Center Drive to provide the most affordable cost of occupancy with the best freeway access and central location for the tenant’s employees,” said Unger. “The tenant is scheduled to move into its new office space in the second quarter of this year and will be a consolidation of the tenant’s Commerce and Mid-Wilshire offices.”
The 900 Corporate Center Drive building provides its tenants free parking in the building’s adjacent parking structure. The three additional buildings within the complex also provide free tenant parking.
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