The roster at Sherman Oaks Galleria continues to fill up in anticipation of the center’s reopening.
Most recently signed to a lease is Burke Williams Day Spa and Massage Centre. The local company will open a 12,000-square-foot facility in September. The operation will offer massage, facial and other body care services.
Also just signed is Aida Grey, a Beverly Hills natural skin care company. The 2,500-square-foot Aida Grey International Beauty Salon will open in October.
With the new deals, the Galleria is 80 percent leased, according to Brent Howell and Allen Young of CB Richard Ellis Retail Services, who are handling the leasing for the center’s owner Douglas Emmett & Co.
The Sherman Oaks Galleria is a 300,000-square-foot open-air mall and 700,000 square feet of office space situated at Sepulveda and Ventura boulevards. Other leases in the works include P.F. Chang’s China Bistro and Islands Restaurant. The center will have a Tower Records and Pacific Theatres 16-plex movie theater.
Taking Over
It might not seem like the most opportune time to take over leadership of a real estate brokerage, but Jeff Scheferman said he’s jazzed about becoming chief executive of Colliers Seely International Inc. The stagnant and uncertain Southern California market is not a deterrent, he said.
“I think what makes these kinds of jobs fun and can get you excited are exactly these kinds of challenges,” Scheferman said. “I’m very enthusiastic about this region.”
Scheferman takes over for Cody Plott, who resigned the post to pursue other interests. Scheferman retired as a colonel from the U.S. Marine Corps and has been with Colliers Seely since joining the company as chief operating officer in February 2000.
This and That
An unidentified local investor doing business as Icarus LLC bought the Crest movie theater building in Westwood Village for $1.8 million.
Brad Stone, president and managing director of The Stone Co., who represented the buyer, said the new owner is interested in turning the building into a live playhouse or nightclub when Pacific Theatres Co.’s lease expires at the end of next year.
The building, at 1262 Westwood Blvd., was owned by a family trust composed of Elaine Lax and Ruth Lehrman and the late Morris Lehrman. The seller was represented by Charles Dunn and Theresa Dunn of Charles Dunn Co. Inc.
“We are in belief that Westwood is going to have a resurrection and also believe there’s a need for live theaters,” Stone said.
The Crest was built as a movie theater in 1941, Stone said, and features a large mural of a thriving Westwood Village, circa the opening date, in its lobby
Representatives of Weyerhaueser Financial Investments have selected a buyer for the company’s Atria West office buildings on Santa Monica Boulevard in West L.A.
Westside real estate sources said Jones Lang LaSalle had chosen Legacy Partners to work out a deal. Jones Lang LaSalle officials declined to comment.
The twin buildings, which make up Atria West, have a total of 171,000 square feet of Class A office space. The buildings are 100-percent leased.
Sources said the deal, which should close within three months, would be in the neighborhood of $25 million to $30 million, or $150 to $175 per foot…
Westside lawyers Kulik, Gottesman & Mouton LLP no longer will be Westside lawyers when they move into new space at the Imperial Bank building at the Sherman Oaks Galleria in September.
Mark Berman, executive vice president at Coldwell Banker Commercial WESTMAC, said one reason the law firm will leave its 9,000 square feet at 1880 Century Park East is savings. The five-year deal will cost the attorneys a total of $1.6 million, or $2.67 per foot. Another consideration is that all three partners in the firm live in the San Fernando Valley. Berman said traffic concerns and the prestige of the new address, which he swears is growing, were other reasons for the move
Berman also reported that Perot Systems Corp.’s new 10-year deal with Tenet Healthcare Corp. means Perot Systems will stay put at Howard Hughes Center.
Perot Systems had a 12-year lease for 18,000 square feet at the modern West L.A. office building complex, but the deal had an out clause so the company could close up the location if Tenet, which operates 114 acute care hospitals nationwide, didn’t renew its contract for consulting and information technology services.
The lease extension is worth a total of $6.5 million, or $3.01 per foot
L & T; Meat Co. bought a 41,000-square-foot food distribution facility at 3050 E. 11th St. in Los Angeles for $2.4 million, or $58.54 per foot.
L & T; Meat bought the property, which includes 10,000 square feet of refrigeration space, from Pilot Distribution LLC. L & T; Meat will lease back the space to Pilot Distribution while the company completes a build-to-suit project in Vernon for its operations.
Staff Reporter Christopher Keough can be reached at 323-549-5225 ext. 235 or by e-mail at [email protected].
