NKF Inks 98 KSF Lease at CA Office Park
- Feb 12, 2018
Newmark Knight Frank has closed a lease with Leidos Inc. to occupy 98,000 square feet at 924 Overland Court in San Dimas, Calif. The two-building office campus is owned by Stillwater Investment Group and Walton Street Capital. The five-year-plus lease brings the 177,000-square-foot asset to full occupancy. The second building is leased to United Technologies Corp.
The Overland Court office campus is located in San Gabriel Valley, off the intersection of Orange Freeway and Arrow Highway and within four minutes of Interstate 210. The building was constructed in 1988 and underwent renovations in 2015. The upgrades included re-facing the building, an expanded parking field, replaced landscaping, interior demolition, as well as the addition of communal exterior gathering places.
“The fact that this office property is now 100 percent leased confirms the investment opportunity for this market. The creative repositioning made a significant difference in obtaining tenant interest; this is the type of office environment which tenants are requesting,” said John Drachman, president of Stillwater Investment Group, in prepared remarks.
NKF’s leasing team included Senior Managing Directors Drew Sanden and Taylor Ing, as well as Senior Associate Scott Maples. The team completed the transaction on behalf of the landlord.
Last December, NKF completed the sale of Redondo Beach Business Court, a 124,400-square-foot office building located in the South Bay. The property changed hands for $36.7 million.
Image courtesy of Newmark Knight Frank