Studio Props Company Signs on for 90K SF in North Hollywood [Updated]
By Alison Stateman December 21, 2018 9:44 pm
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Studio props company Faux Library Studio Props is making a move with a 90,000-square-foot lease in North Hollywood, according to a release from CBRE (CBRE), which represented the landlord in the transaction. The company will be taking over the entire property at 11501 Hart Street in phases over the next few months via a seven-year lease, valued at $5.6 million, as the San Fernando Valley Business Journal first reported.
Faux Library is relocating from its current location in North Hollywood at 7100 Case Avenue because the company had outgrown the previous location, according to Christopher Mckenzie of Delphi Business Properties, who represented the tenant in the deal.
“Studio prop rentals have been in high demand and their business has been rapidly expanding over the past few years,” McKenzie said in a statement.
The owner and former property tenant, Surfaces USA—which offers tile, stone and countertop products for manufacturers and consumers—is shutting down its operations at Hart Street, but maintaining an existing location in Oxnard in Ventura County, CBRE noted.
CBRE’s Matt Dierckman, Dave Harding, Greg Geraci and Billy Walk represented the landlord.
“This is a perfect fit for the tenant as they were looking to stay in the North Hollywood area to better service neighboring entertainment companies,” Dierckman said in prepared remarks. “The space provides everything needed for this unique kind of company to operate efficiently and meet the needs of its customer base.”
The free-standing building contains 11,861 square feet of office space, 10 ground-level doors, high-voltage capability and vintage-style aesthetics. The property sits in the center of North Hollywood at the cross street of Tujunga Avenue and Sherman Way and is near the 170 and 5 freeways.
While e-commerce users are typically absorbing this type of space in the Greater Los Angeles area, CBRE indicated, North Hollywood, in particular, attracts tenants that need extra space to store large, rental-type items and equipment to meet the demand of entertainment-related studios and companies, many of which are located in nearby Burbank and Studio City, including Disney, Universal Studios and Warner Bros.
The free-standing building contains 11,861 square feet of office space, 10 ground-level doors, high-voltage capability and vintage-style aesthetics. The property sits in the center of North Hollywood at the cross street of Tujunga Avenue and Sherman Way and is near the 170 and 5 freeways.
While e-commerce users are typically absorbing this type of space in the Greater Los Angeles area, CBRE indicated, North Hollywood, in particular, attracts tenants that need extra space to store large, rental-type items and equipment to meet the demand of entertainment-related studios and companies, many of which are located in nearby Burbank and Studio City, including Disney, Universal Studios and Warner Bros.
Update: This story has been updated to include commentary from Christopher McKenzie of Delphi Business Properties, who represented the tenant.
