LINE 6 RENEWS AND EXPANDS LOS ANGELES HEADQUARTERS
Studley represents guitar manufacturer in 70,000-square-foot transaction
Los Angeles, CA (September 17, 2012)
Line 6, Inc., a leading manufacturer of guitars and guitar equipment, renewed and expanded its corporate headquarters lease for a total of 70,000 square feet at the Calabasas Tech Center in Calabasas, CA. The company restructured and extended its existing commitment for the entire 57,155-square-foot building at 26580 Agoura Road, its home since 2006, and took an additional 13,000 of space in the adjacent building located at 26664 Agoura Road.
Andrew Lustgarten, corporate managing director in the downtown Los Angeles offices of global tenant advisory firm Studley, advised Line 6 in the transaction, valued at approximately $9 million. He represented the company in two previous transactions at this location.
“This transaction allowed us to reduce Line 6’s existing rental obligation, fix future costs at the bottom of the market, and accommodate the company’s continued growth, all without any disruption to its ongoing business operations,” said Lustgarten.
The landlord, Hines, was represented in the transaction by Matt Heyn, David Solomon and Troy Pollet of CB Richard Ellis. Calabasas Tech Center is a 281,707-square-foot complex comprised of seven buildings.