VALENCIA, CA-Deluxe Media Management has leased a 229,450-square-foot industrial building at Vista Business Park in Valencia here from Multi-Employer Property Trust in what is believed to be the largest industrial building lease in the Santa Clarita/San Fernando Valley area this year. The company, which is a subsidiary of Deluxe Entertainment Services Group Inc., will use the space to expand its fulfillment operations that provide third-party logistics services to the Hollywood entertainment and consumer products industries.

Rob Fuelling, a senior vice president at Los Angeles-based IDS Real Estate Group, along with Nigel Stout of Jones Lang LaSalle, represented Multi-Employer Property Trust, a $5 billion core real estate equity fund. Craig Peters of CB Richard Ellis represented the tenant in the lease, financial terms of which were not disclosed.

Michael Alvarez Jr., president of Deluxe Media Management, says that the new space “allows us to better serve our clients in storing, managing and distributing their physical and digital materials.” MEPT funded and owns Vista Business Park, as well as 8.3 million square feet of commercial real estate in California, including Corporate Pointe in West Hills and Northridge Business Center in the San Fernando Valley.