The University of Southern California inked a consolidation/extension lease for 57k sf of space at 1000 South Fremont Ave in Alhambra. The seven-year deal has a total value of about $8 mil ($1.67/sf/mo).
USC has downsized its occupancy at the property from approximately 122k sf to 57k sf as part of its overall real estate strategy, which included shifting some personnel to other university-controlled facilities...
David Gordon and Stephen Walbridge, executive vice presidents with global tenant advisory firm Studley’s Corporate Services Group, represented the university in the lease restructure. “The extension reduced our client’s occupancy costs while confirming a long-term commitment to the property, a positive outcome for both USC and the building ownership,” noted Walbridge. USC Inks Extension Lease in Alhambra for Reduced 57k sf Space
Related StoriesRoof Decks and Other Trends for 2014 Office Space
Studley helps employers find office space