City of Hope signed a new 10-year office lease for 167,665 square feet at 4920 Rivergrade Rd. in Irwindale, CA.
The two-story, 167,665-square-foot, 4-Star office building was constructed in 1981 on 10.4 acres in the Eastern SGV submarket of Los Angeles County, and was renovated in 1990. The tenant will locate 600-700 employees there starting in the third quarter.
The asset is part of the three-building, LEED Silver-certified San Gabriel Valley Corporate Campus, located near the 605, 10 and 210 Freeways. The landscaped park offers walking paths, outdoor seating with a variety of fountains, putting greens, a fitness center with locker rooms and racquetball courts, as well as a full cafeteria and conferencing facilities.
Kevin Duffy, senior vice president and Damon Feldmeth, first vice president with CBRE represented the landlord, Metropolitan Life Insurance Company (MetLife).
"This deal represents significant absorption and expansion by one of the most respected organizations in the San Gabriel Valley," said Duffy. "The Western San Gabriel Valley office base of 13.5 million square feet ended 2013 with a 12.7% vacancy rate," he added.