by Jana Adkins | Nov 19, 2012

Article | June 28, 2012 - 4:53pm

County renews 5-year lease in Valencia

Los Angeles County renewed a lease for another five years in the Valencia Corporate Plaza in Santa Clarita, Parallel Capital Partners Inc. announced Tuesday.

The property, located on Avenue Stanford, houses the Department of Children and Family Services. The private equity investment firm said it renewed the lease with the county for 38,087 square feet of office space in two of the three buildings in the plaza project, located at 28470 and 28490 Avenue Stanford.

“They’ve been a tenant for quite some time, and we were very happy to keep them and renew the lease,” said Jim Ingebritsen with Parallel Capital Partners.

Parallel has been working with the county since the firm acquired the buildings in the third quarter of last year, he said.

Formerly, the buildings were operated by Pacific Office Properties but Parallel Capital took over April 1, Ingebritsen said.

Valencia Corporate Plaza consists of three three-story Class A office buildings on a 13.8-acre site located near the I-5 freeway and Newhall Ranch Road interchange. The buildings feature 2-story entry lobbies and various on-site amenities including a café and gym and nearly 850 parking spaces.

The County of Los Angeles represented itself in the transaction and Parallel Capital Partners, Inc. represented itself. Matt Root and Jim Ingebritsen of Parallel are involved with the Valencia Corporate Plaza.