Landlord Agrees to Convert 17,200 SF of Office Space to Medical Use for New Tenant
Huntington Reproductive Center signed a lease for 17,182 square feet of office space at the Encino Arches in Encino, CA. The 12-year lease was signed with a reported rent of about $3.15 per square foot per month, totaling approximately $9.4 million over the term of the lease.
The tenant will convert the office space at 15503 Ventura Blvd. into medical use. The breakdown of space leased consists of approximately 7,000 square feet on the ground floor and 10,000 square feet on the second floor. The remodeling is projected to begin after Jan. 1 and the company plans to move in about six months thereafter.
Article by: Emily Sheeder of the Costar Group