Local brokers report a relatively quiet commercial leasing scene this fall but all is not dead. In Seal Beach, lock maker Masco Corp. is leasing 40,000 square feet of office space from the Bixby Ranch Co. in a 10-year contract worth more than $10 million.
The company plans to relocate 130 employees from Long Beach to the Bixby Office Park at Old Ranch early next year. Gregory Gill and Robert Alperin of Matlow-Kennedy represented the tenant in lease negotiations. Steve Reaume of Cushman Realty Corp. represented the developer.
At the Cerritos Towne Center, Canadian computer firm System House signed a 10-year, $10.5-million lease for 42,000 square feet. Coldwell Banker represented the tenant and Tim Stilley of Grubb & Ellis Commercial Real Estate Services represented landlord Transpacific Development Co.
In downtown Los Angeles, U.S. Bancorp Financial Inc. is relocating from the Jewelry Mart on Hill Street to 20,000 square feet at Figueroa Plaza.