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SAN DIEGO, CA-In a transaction valued at $4.7 million a 72,275-sf warehouse property has been leased to Event Rentals Inc dba Classic Party Rentals. The lease terms are 10 years and Classic Party is set to occupy the property in July. Arnie Friedman and Andrew Zimsky of Colliers International represented the landlord, Belinsky Family Partnership, while Tucker Hohenstein of Burnham Real Estates Services represented Classic Party.The move springs from an expansion of Classic Party Rentals, who are more than doubling their warehouse space. The event rental and planning company previously occupied a 30,600-sf building at 3939 Ruffin Road in Kearny Mesa. The new property will consist of 3,800 sf of administrative office space, 19 dock loading doors and grade level loading. "The Miramar industrial market continues to be very competitive," Zimsky tells Globest.com. With a vacancy rate of just over 4%, this was one of the few large blocks of warehouse space available in the area." The property is located at 7069 Consolidated Way, Suite B in Miramar and is part of a two-building warehouse distribution project known as 7069-7071 Consolidated Way. The 100%-occupied building totals 165,801-sf and is located approximately five miles from the I-15 and I-805. Other tenants include Now Furniture, Legacy Home Furnishings and Big Box Storage.