USC expands in Arcadia with 33K sf lease

The lease brings the medical office property to full occupancy

TRD 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 Article

arrow_forward_ios
The late owner Irvin Kanthak and (From top left, clockwise) Hoover Place at 720 Hoover Street, 966 South Hoover Street, 738-742 West 27th Street, and 2823 Orchard Avenue

A 10-property apartment portfolio near USC and Koreatown hits the market

Tracey Raszewski and Ventus Group President Scott Gale

Ventus scores approval for controversial Fig mixed-project

Aaron Hirschi, senior vice president of land acquisition for Olson Homes, Lennar Corporation CEO Rick Beckwitt, and the project site (Credit: The city of Arcadia)

The biggest homebuilder in the US has big plans for an Arcadia shopping mall

Acres Capital CEO Mark Fogel with a rendering of project

Chateau Group scores $44M bridge loan to build Marriott-branded hotel in Arcadia

From left: Saeed Nourmand, Michael Nourmand, Grant King and Richard Heyman

Relevant Group sues Nourmand & Associates’ founder, alleging extortion over hotel projects

Centennial founder and CEO Steven Levin with a rendering of the project

Centennial Real Estate approved for sprawling $300M mixed-use village

Apartment complex at 1435 Stanley Avenue and Raintree Partners CEO Jeffrey Allen (Credit: Apartment Finder)

Raintree Partners spends $79M on Glendale multifamily portfolio

LA Mayor Eric Garcetti

Down goes Measure EE: Property tax referendum routed at polls

arrow_forward_ios