LOS ANGELES-With a little help from Studley, Line 6 has renewed its 70,000-square-foot lease here. The guitar manufacturer decided to stay put at its current location at the Calabasas Tech Center. It has taken an additional 13,000 square feet of space at the adjacent building located at 26664 Agoura Road on top of restructuring and continuing its current agreement.
“This transaction allowed us to reduce Line 6’s existing rental obligation, fix future costs at the bottom of the market, and accommodate the company’s continued growth, all without any disruption to its ongoing business operations,” said Andrew Lustgarten, corporate managing director from the Los Angeles Studley office said in a statement from the company.
According to the same release, the transaction was valued at approximately $9 million.
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