Financial Services Company B. Riley Financial Leases 18,000 Square Feet at Westlake Village Office – CBRE
20 Jul 2020
Los Angeles – CBRE announced financial services firm B. Riley Financial (NASDAQ:RILY) signed a new 18,000 square-foot office lease in Westlake Village, CA.
CBRE’s Matthew Heyn represented the tenant. The landlord BentallGreenOak was represented by an outside broker.
Located at 30870 Russell Ranch Rd., the Class A building offers steel frame, class A construction with an onsite fitness facility with freeway frontage and signage and is located near several walkable retail amenities.
B. Riley signed a 10-year lease at the new property, moving from its original location in Woodland Hills.
“Moving from Woodland Hills to Westlake Village helped the client achieve substantial savings,” said Heyn. “We started this process pre-COVID and ended up signing it during the pandemic. Getting consensus to move the company’s office to another market on top of committing to a long-term lease in these uncertain times was challenging but we got it done as both client and landlord realized the tremendous benefits from this move.”
He added, “The landlord was able to work with our client and address many cost and liability issues that were not available pre-COVID as they acknowledged the value of entering into a long-term partnership with a great company like B. Riley.”
The COVID-19 pandemic has had a profound impact on the national and regional economies, but CBRE Econometric Advisors (CBRE EA) is projecting a robust recovery beginning in 2021, with office markets projected to fully recover by Q4 2021.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.