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Intuit Fills 167,000 SF in $70M Office Lease

WOODLAND HILLS, CA-The developer of Quicken and other software products expands its Southern California operations with a move into LNR Warner Center.

By Bob Howard | Updated on September 21, 2008

WOODLAND HILLS, CA-Intuit Inc., the Northern California-based developer of Quicken and other software products, has expanded its Southern California operations with a relocation into 167,430 sf of office space at LNR Warner Center. Financial terms of the 10-year lease, which Intuit signed in November 2006 before construction of the building had started, were not disclosed. But the software firm mentioned the value of the deal in an SEC filing in 2007, in which it said, “We estimate that our total minimum commitment for this lease is approximately $70 million.” Quoted asking rents at the project range from $2.75 to $2.95 per sf per month, full service gross, plus parking.

The Mountain View-based software firm has taken four entire floors in a 255,000-sf six-story building at 21215 Burbank Blvd. in the LNR Warner Center project, according to Paul Stockwell, a senior vice president with CB Richard Ellis in Downtown Los Angeles. Stockwell and John Sabourin, also an SVP with CBRE’s Downtown L.A. office, are the listing agents for the project.

Stockwell tells GlobeSt.com that Intuit is occupying floors one through four and that the other two floors remain available in the building, which is the seventh and last of the office buildings planned for the LNR Warner Center project, which may yet add a restaurant. Located at the northeast corner of Canoga Avenue and Burbank Boulevard, LNR Warner Center totals approximately 1.3 million sf in the seven buildings.

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