Lee & Associates Transacts Over 12,000 SF of Office Leases in Burbank, CA
BURBANK, CA – June 15, 2011 – (RealEstateRama) — Robert D. Erickson and Trevor Belden, Principals of Lee & Associates-LA North/Ventura, Inc., completed two lease transactions totaling more than 12,000 square feet in two adjoining Burbank office buildings.
The team transacted an 8,870-square-foot lease at 607 S. Glenoaks Blvd. in Burbank and a 3,304-square-foot lease at 601 Glenoaks Blvd. on behalf of the landlord, Jamison Properties.
Combined consideration for the two transactions was approximately $1.4 million.
Infinity Insurance Co., an auto insurer with offices in 43 states, leased the space at 607 S. Glenoaks Blvd. The company is consolidating two offices into the Burbank location. Marin Rutherford, a broker with Jones Lang LaSalle, represented Infinity. The space at 601 S. Glenoaks Blvd. was leased by Qube Cinema, a digital cinema technology provider that is relocating its offices from North Hollywood. Joseph Selbo with Charles Dunn Co. represented Qube.
“With supply still exceeding demand in Burbank it’s important to focus on the unique features of a building,” Erickson said. “In this case, we were able to offer Infinity a dedicated parking area that allows its customers easy access for inspections and other business. We were also able to provide signage that offered the visibility they needed.
“The 601 Glenoaks suite leased by Qube had high ceilings, which was an important requirement for that company,” Erickson added.
Additional terms of the deal were not disclosed.
About Lee & Associates – LA North/Ventura, Inc.
Celebrating more than 30 years of leadership in the commercial real estate industry, Lee & Associates®, is the largest broker-owned commercial real estate provider in the nation with 43 offices in California, Arizona, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, South Carolina, Texas and Wisconsin. Lee & Associates-LA North/Ventura, Inc., a member of the Lee & Associates group of companies, provides industrial, office, retail and multifamily/investment brokerage services across the San Fernando Valley, Conejo Valley, Antelope Valley and throughout Ventura County. Lee & Associates’ clients enjoy a comprehensive range of commercial real estate services including: sales and leasing; real estate investment consulting, property acquisition, disposition and 1031 exchange transactions; tenant representation and relocation, land assemblage, site selection, mixed-use and urban in-fill, property and portfolio evaluation and market research. Foun ded in Sherman Oaks in 1994, Lee & Associates-LA North/Ventura now operates four California offices including Calabasas, Ventura County and Antelope Valley. For more information, contact us in the San Fernando Valley at 818.986.9800; in Ventura County at 805.626.1200; or in Antelope Valley at 661.341.3300. Or visit us online at www.lee-associates.com.
