The Church of Scientology has signed a 10-year lease topping $12 million for industrial space in Commerce.
The lease with landlord Guardian Life Insurance Co. of America for the 184,772-square-foot building at 6130 E. Sheila St. closed Nov. 9. The church will print and distribute magazines and books there. The deal starts at about 52 cents per square foot per month on a triple net basis and includes annual rent escalations. The lease will begin Dec. 1.
"I think we got a good deal - to be able to lock in a rate now," said John Repstad of Realty Advisory Group Inc., who represented the tenant. "I think overall for what they are looking for long term it was a good deal for them."
Guardian Life of New York could not be reached for comment.
Broker Jeff Stephens of CB Richard Ellis Group Inc., who represented the landlord, declined to comment.
The church will occupy the building in the second quarter of 2010. It leases another large Commerce industrial facility, where it also handles publishing, at 5600 Olympic Blvd.
Mark Repstad and Jim Abbott Jr. of Realty Advisory Group also represented the tenant. The landlord was also represented by John Privett and Cameron Merrill of CB Richard Ellis.
