Lee & Associates-LA North/Ventura Transacts Industrial Leases Totaling More Than $2.4 Million

DataDirect Networks, Inc. (DDN) renews its corporate headquarters lease

 

LOS ANGELES—May 3, 2017 – DataDirect Networks, Inc. (DDN) has leased industrial space totaling just under 90,000 square feet in two buildings in the Chatsworth submarket of Los Angeles, according to Scott Caswell, principal of Lee & Associates-LA North/Ventura who executed the lease transaction on behalf of the landlord, Northpark Industrial Center.

Total consideration for the 36-month renewal at 9351 Deering Ave. and 9223 Deering Ave. totals in excess of $2.4 million.

“Northpark Industrial Center, with 1.3 million square feet, offers beautifully appointed offices in a fully air conditioned facility with heavy power at extremely competitive pricing,” said Caswell. “But our continued relationship with the tenant is due not only to these features, but also because the park has been able to accommodate the company’s growth through the years and can continue to do so in the future.”

Northpark Industrial Center serves as U.S. corporate headquarters for DDN, the world’s leading big data storage supplier to data-intensive, global organizations. The company has locations in 20 countries worldwide. Others who make their corporate or regional headquarters in this prestigious industrial park include Bechtel Corporation, Moog, Inc. (NYSE: MDG.A, MDG.B); Acuity Brands, Inc. and Capstone Turbine (NASDAQ:CPST).

The industrial park features a center atrium and water features with facilities in hard-to-find size ranges.

Rick Pearson, a broker with Cresa Partners, represented DDN.
Chatsworth, the largest industrial submarket in the San Fernando Valley region of Los Angeles, had a vacancy rate of 2.9 percent as of the first quarter of 2017, an indication of the tight industrial market in the region.