FOR IMMEDIATE RELEASE
Capital Network Leasing Corporation Relocates to 15,000 Square Foot Space in Burbank
Los Angeles, September 26, 2007 - Capital Network Leasing Corporation (CapNet) announced that it has arranged its corporate headquarters relocation through CB Richard Ellis from Sherman Oaks to Burbank's Media District. According to CB Richard Ellis, the 14,984 square foot lease is the largest, new direct lease for a tenant moving into the Media District market this year, not including tenant renewals. The Media Building that CapNet will call home is owned by Legacy Partners, represented by Madison Partners. The transaction is valued at approximately $3 million.
"The Media District is roughly 3% vacant and is considered one of the most premier business addresses that the city has to offer," said CB Richard Ellis's Nico Vilgiate, who represented CapNet in the transaction. "With the landlord offering a compelling economic deal, as well as the ability to accommodate future growth, it was an ideal fit for CapNet."
Drawn to Burbank for its up-and-coming business epicenter and for the ability to better service their media clients, CapNet will lease space at 2600 West Olive Avenue, which is a Class A, Media District building. Other tenants in the 10-story building include Regent Business Centers, Emmis Communications and DVS.
"We are confident that this move will help facilitate the constant expansion we have and will continue to undergo," said Blake Johnson, CapNet President. "This move will accommodate us for several years to come, allowing us to better service our customers by further developing each department and continuing to offer our clients the fastest transactions and the most personalized service in the industry."
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), an S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2006 revenue). With over 24,000 employees, the Company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate and partner offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. In 2007, BusinessWeek named CB Richard Ellis one of the 50 "best in class" companies across all industries. Please visit our Web site at www.cbre.com, or call Christy Ingle, 909.418.2257 or christy.ingle@cbre.com.
About CapNet
CapNet was founded in 1999 on the core principles of integrity, character and the highest quality of service. Ranked #44 on Inc. 5000's list of Top Companies in Financial Services and ranked #5 on The Los Angeles Business Journal's list of The Best Places to Work in Los Angeles, CapNet has quickly become one of the premier equipment leasing companies in the United States. Serving thousands of businesses nationwide, CapNet is headquartered in Sherman Oaks with offices in Newport Beach and Phoenix. The company is a member of the United Association of Equipment Leasing and the Better Business Bureau. To find out more about CapNet's services visit us online at www.capnetusa.com, or contact Alana Littler, 877.980.0558 x315 or alanal@capnetusa.com.
Los Angeles
