Newmark negotiated a 166,867-square-foot, long-term headquarters lease renewal and expansion on behalf of North Los Angeles County Regional Center (NLACRC) at Wset Valley Corporate Center, 9200 Oakdale Ave. in Chatsworth. The transaction represents the largest office lease by square footage in Los Angeles County year to date, according to Newmark.
A Newmark team of EVP Steve Kolsky, executive managing director Suzanne Lee and managing director Ron Burkhardt represented NLACRC. Newmark Workplace Strategy managing director Katie Ruf, project manager Sabrina Rahman, Debt & Structured Finance executive vice chairman Bill Fishel and associate director Mai Hu also supported the transaction.
NLACRC, a nonprofit that partners with community-based organizations to better serve individuals with developmental disabilities and their families, previously occupied 112,115 square feet at the property as its headquarters. It’s the largest of California’s 21 regional centers.
“As specialists in headquarters transactions for tenants throughout Los Angeles, our team focused on securing a solution that delivers long-term flexibility, enhanced amenities and exceptional value for an organization doing such vital work in our community,” said Lee.
Landlord Omninet was represented by Jim Lindvall and Chloe Sanchez of JLL.
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