USC Grows in San Gabriel Valley
Tenant Completes 33,000-SF Lease for Arcadia Medical Space
University of Southern California is expanding in the San Gabriel Valley with a lease for additional medical space in Arcadia, CA.
USC signed a 10-year deal for 33,000 square feet at 125 W. Huntington Dr. with landlord VG Property Investments LLC.
Terms were not disclosed, but asking rates are about $2.95 per square foot at the site, according to CoStar data. At that rate, the deal would be valued at nearly $11.7 million.
VG built the 40,000-square-foot, two-building development on speculation that the medical office market would be quick to lease up the space. USC’s lease brings the project, completed about two years ago, to full occupancy. (www.costar.com)
Size: 28,000 SF
Address: 125 W. Huntington Dr.
Landlord: VG Property Investments LLC
Landlord Rep: Robert Ip, Michael Dettling and Andrew Berk – Avison Young
Tenant Rep: Rocky Binswanger and David Freitag – CBRE