Panavision Inks $50M Lease for 145,000-SF HQ
September 27, 2011
By: Bob Howard

Panavision Inc. has signed an 18-year, $50 million lease to occupy an entire building owned by Angelo, Gordon & Co. of New York City and will relocate its headquarters there next year. The movie industry camera and equipment company’s new headquarters will be at 6101 Variel Ave., where the building ownership is improving the Variel Avenue property specifically for Panavision. ...

... Panavision was represented in the transaction by Mark Sullivan, executive vice president with global tenant advisory firm Studley. ...

... “Panavision had a number of unique needs including requiring a prime urban location that provided a mix of light manufacturing space, loading docks, and corporate offices in a single low-rise building,” Sullivan said. “We conducted a comprehensive search over a 14-month period before committing to the Warner Center property.”

"Additionally, the transaction terms provide significant tenant improvement dollars allowing Panavision to fully customize the space,” noted Sullivan. ...

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