Crown Realty & Development completed two long-term office leases encompassing 128,000 square feet at its Wateridge office campus in Los Angeles.
The total value of the transactions was not disclosed.
With the two new leases, including a 100,000-square-foot commitment from children’s services provider Crystal Stairs, Wateridge is now 95 percent occupied as of the time of sale. Crown Realty will now move forward on the development of a four-story, 95,000-square-foot Class A office building, the third and final phase of new construction at the site.
Country Villa Health Services signed a lease agreement for 28,000 square feet of space.
Jeff Pion and Deron White of CB Richard Ellis are the exclusive leasing agents for Wateridge and represented Crown Realty in the above transactions. Additionally, Crown was represented by Ari Brumer, Esq., Attorney at Law, practicing with the Los Angeles office of Jeffer, Mangels, Butler & Marmaro.
Founded in 1994, Crown Realty & Development is a private company focused on creating and adding value through the development, redevelopment and professional management of real estate.
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