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Thursday, Nov 21, 2024

Party Rental Company Signs 60,000-Square-Foot Lease in Valencia

24/7 Events Inc., a rental company for corporate and sporting events, has leased 50,930 square feet at a newly constructed industrial property in the Valencia Commerce Center complex. CBRE Group’s Craig Peters represented the landlord, Ground Up Properties 3 & 4, a local development and investment company, on the transaction, while CBRE’s Matt Dierckman represented the tenant. The Class A industrial building — at 27788 Hancock Parkway in Valencia — stands at the entrance to Valencia Commerce Center and is located adjacent to highway 126, with easy access to the 5 freeway. 24/7 rents tents, tables, seating and catering equipment for events, in addition to transportation and live entertainment services. With the start of the 24/7 Events lease, which commences in April, Valencia Commerce Center will have 98 percent occupancy.

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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