Hair Products Company, Lender Both Double Space

SANTA CLARITA, CA-The John Paul Mitchell hair and skin products company of Beverly Hills has signed a deal to purchase a 171,000-sf facility at the Centre Pointe Business Park in a move from approximately 90,000 sf elsewhere in Santa Clarita. In a separate deal, lender Ownit Mortgage has signed a 50,000-sf lease that will more than double its space in a move to Agoura Hills from Woodland Hills.Mitchell, a manufacturer and distributor of its products, is acquiring its new building in a transaction brokered by Jim Linn and Nigel Stout of Grubb & Ellis. Dan Sibson, portfolio manager for Los Angeles-based Investment Development Services Inc. (IDS), reports that the $12-million project is rising on an 8.5-acre parcel at 20705 Centre Pointe Parkway within the 240-acre Centre Pointe development. IDS is serving as construction manager for the build-to-suit project on behalf of business park developer Spirit Properties of Santa Clarita, with Oltmans Construction Co.’s Thousand Oaks office as general contractor for the project. Sibson says the new building, which is due for completion in December, will be one of the most efficient distribution facilities in Santa Clarita Valley. It will be fully racked to the entire height of the building and will feature wire-guided machinery. The Mitchell facility, designed by Poliquin Kellogg Design Group of Woodland Hills, is a concrete tilt-up structure that will feature 15,000 sf of office space, 13 loading doors and on-site parking for 332 cars. The new facility will be part of a Center Pointe Business Park development that includes 19 buildings totaling 356,030 sf that have been completed and either sold or leased. Some 35 buildings totaling more than one million sf are planned or under construction, with 544,550 sf of that one million either pre-sold or leased.In the Ownit Mortgage expansion, the lender has signed a deal to sublease 50,000 sf of a 90,000-sf building at 27349 Agoura Rd. in a move of its headquarters from 21,000 sf of leased space in Woodland Hills, according to Tom DelPonti of Equis Corp. DelPonti, who represented Ownit with Nathan Piehl, also of Equis, says the new offices will accommodate Ownit’s future growth plans by providing space for its own needs plus the space requirements of three affiliates. Ownit, a national mortgage lending company, is subleasing the space from Spirent Communications, which was represented by Darren Shibuya of Cresa Partners. The mortgage lender plans a September move. Terms of the sublease were not disclosed; asking rates for comparable space are approximately $2 per sf per month. DelPonti does say that the sublease includes a period of free rent, use of existing furniture, an early termination option, a thorough renovation and building-top and freeway signage. Ownit’s mortgage lending business will occupy about 75% of the space it is leasing, with the remainder to be occupied by firms affiliated with Ownit CEO Bill Dallas. The other firms include Dallas Capital Management, an investment advisory firm that operates Mindbox, a financial services software company; Fox Sports Grill, a national restaurant chain; and Sysdome, a marketer of fraud prevention systems.