The tenant is L.A. Records Management Inc. Its new, 10-year lease for 108,288 sf at 15624 Roxford St. in Sylmar is valued at $8 million.
L.A. Records' newly constructed building is one of three structures inside World Oil Corp.'s Gateway Business Park. L.A. Records plans to move in next spring and will sublet the 50,000 sf of space it currently occupies in Sun Valley.
Chuck Carmichael of NAI Capital Commercial's Encino office represented L.A. Records in the transaction and also will seek a tenant to sublease the Sun Valley space. World Oil Corp. was represented by Barbara Emmons of CB Richard Ellis and Chris Sullivan of Daum Commercial.
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