USC expands in Arcadia with 33K sf lease

The lease brings the medical office property to full occupancy

Los Angeles /
May.May 31, 2018 05:00 PM
125 W. Huntington Drive

The University of Southern California is expanding its presence in the San Gabriel Valley.

The university signed a 10-year lease for 33,000 square feet at a two-building medical office at 125 W. Huntington Drive in Arcadia, according to CoStar. The lease brings the 40,000-square-foot property, owned by VG Property Investments LLC, to full occupancy.

Terms of the deal were not disclosed. CoStar reported that asking rents were around $2.95-per-square-foot, which would make the deal worth about $11.7 million. VG Properties lists its address at the property, which it developed on spec and completed in mid-2016, according to Arcadia Weekly.

USC will use the space as an oncology infusion center and for general medical uses. USC will renovate its new offices for occupancy early next year.

USC is expanding elsewhere in the valley. The Ratkovich Company announced last week that the USC Keck School of Medicine expanded its lease at the firm’s “The Alhambra” complex in Alhambra. [CoStar] – Dennis Lynch 


Related Articles

arrow_forward_ios
Renderings of One Beverly Hills and Beny Alagem. (One Beverly Hills, Getty)
Beny Alagem’s $2B Beverly Hills project gets go-ahead
Beny Alagem’s $2B Beverly Hills project gets go-ahead
The San Pedro Fish Market is one of the top-grossing restaurants in the U.S. (Getty, Facebook via San Pedro Fish Market and Restaurant / Photo Illustration by Alison Bushor for The Real Deal)
San Pedro Fish Market plans new “supersize” restaurant
San Pedro Fish Market plans new “supersize” restaurant
The Chateau Marmont (Getty) and protest signs (Unite Here Local 11)
Chateau Marmont workers say iconic West Hollywood hotel misused rescue funds
Chateau Marmont workers say iconic West Hollywood hotel misused rescue funds
Arcadia residents are protesting a plan to give shelter to homeless people. (Getty)
Asian Americans protest ‘tiny homes’ for homeless in Arcadia
Asian Americans protest ‘tiny homes’ for homeless in Arcadia
Small Business Administration administrator Isabel Guzman (Getty, iStock)
Starved for relief: Restaurants seek $76B, far more than budgeted
Starved for relief: Restaurants seek $76B, far more than budgeted
Goodman CEO Greg Goodman and a rendering of the facility. (Goodman)
Goodman’s massive logistics center will target e-commerce tenants
Goodman’s massive logistics center will target e-commerce tenants
California is waiting to adopt the CDC maskless decision. (Getty)
California still says mask up at office, for now
California still says mask up at office, for now
Hudson Pacific Properties CEO Victor Coleman with 3400 Hillview and 3176 Porter (Getty, HPP)
Hudson Pacific posts profit after 2 straight quarters of losses
Hudson Pacific posts profit after 2 straight quarters of losses
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...