Arden, Janez Sign Five Tenants

IRVINE, CA-Two office tenants have signed leases valued at more than $2 million here with Arden Realty Inc. of Los Angeles, and in Riverside, Janez Properties of San Diego has signed two tenants for its Summit Business Centre In the first of the Arden leases, Howard S. Wright Construction Co. signed a seven-year, 9,244-sf lease at Arden’s Von Karman Corporate Center that was valued at approximately $1.3 million. Royce Sharf of Julien J. Studley, Inc. represented the tenant, with Arden represented by Drew Netherton and David Dowd of Cushman & Wakefield, along with Arden’s in-house leasing representative, Andy Batcheller. Von Karman Corporate Center is a nine-building office project at 2121 Alton Parkway. In the other Arden deal, the law firm of Fonda & Fraser renewed a four-year, $700,000, 10,608-sf lease at Anaheim City Centre, located at 222 S. Harbor Drive. Arden’s Tina LaMonica represented the landlord. Janez Properties signed its leases with three tenants at Summit Business Centre, a 138,500-sf, five-building office complex at 2002-20038 Iowa Ave. in Riverside. The leases, for 12,000 sf, have a combined value of approximately $825,000. The tenants include Canty Engineering Group, with 3,767 sf, which expanded its operations and signed a new five-year lease valued at $480,820 for 7,200 sf; Labor Connection, an employment agency, which leased 2,500 sf for five years for $183,165; and Rosemary Children’s Services Inc., a foster care and children’s services organization, which signed a five-year lease valued at $160,273 for 2,400 sf. Vindar Batoosingh and Philip Woodford of CB Richard Ellis represented the tenants and the landlord in all of the leases. In March, Janez Properties acquired the five-building office complex, located at 2002-2038 Iowa Ave., from developer Magnon Properties, and subsequently launched a $1 million renovation program, replacing existing roofs and HVAC units, improving the exterior and upgrading landscaping. In conjunction with the renovation, Janez changed the name of the center, formerly called Iowa Business Park, to Summit Business Centre.