Sun Valley is becoming Hollywood's back lot.
Entertainment service companies in the San Fernando Valley community recently signed two deals, for an aggregate 245,000 square feet of industrial space worth a combined $14.9 million.
Entertainment trucking and storage firm Western Studio Service Inc. signed a 10-year master lease for the 180,000-square-foot building at 9175 San Fernando Road for $9 million. They already had been leasing 1 million square feet in the San Fernando and Santa Clarita valleys.
"They'll be using about 48,000 square feet," said David Hoffberg, broker with Delphi Business Properties, who, with the firm's Stu Leibsohn, represented the landlord, Berendo Property. "They'll grow into the balance as the other tenants' leases roll over." CB Richard Ellis' Greg Barsamian represented Western Studio Service.
In the other deal, trailer company Movie Movers bought a six-acre site with 65,000 square feet of industrial development at 11473 Penrose St. for $5.9 million. The company will be consolidating its Van Nuys and Culver City operations.
"There's not much available in this size anymore," said Mike LaRocque, executive vice president of Daum Commercial Real Estate Services and buyer representative. "This is a property that was custom made for them."
Daum's Chris Sullivan represented the seller on the deal, Engilman Trust.
Staff reporter Danny King can be reached at (323) 549-5225 ext. 230, or at dking@labusinessjournal.com.