LOS ANGELES (November 12, 2020) – In one of the largest leasing transactions in the San Fernando Valley year-to-date, Savills announced today that it has finalized a long-term, 164,000-square-foot lease extension for HARMAN International at 8500 Balboa Boulevard in the Northridge submarket of Los Angeles.

HARMAN, a subsidiary of Samsung, designs and manufactures audio products and solutions for automakers, consumers, enterprises and the live entertainment industry worldwide.  HARMAN’s 300-person team at its longtime Northridge location includes product research and development, engineering, operations, marketing and finance teams supporting the company’s global strategic business units. 

As part of the new agreement engineered by Savills, HARMAN will reimagine its office layout in a fully transformed portion of the building. It will feature a multipurpose, flexible office space design that will accommodate HARMAN’s existing research and development labs and the 15,000-square-foot customer Experience Center completed November 2017.

At 22-acres, THE MIX at HARMAN Campus also includes retail, office, as well as light industrial space. HARMAN expects to occupy its new space following the completion of renovations in late 2021 or early 2022.

Savills procured further extension options in the deal with owners Shubin Nadel and DRA Advisors. As part of the renewal agreement, the landlord will be responsible for renovations to the core and shell while providing an allowance for HARMAN to refurbish its space to a more contemporary design finish including open ceilings, natural lighting sources and polished concrete floors. 

A Savills team comprised of Strategic Advisor Stephen Walbridge and Corporate Managing Director Marcus Arredondo advised HARMAN on the real estate solution.

“Because of the existing research and development labs and recently completed Experience Center, HARMAN’s space requirements are truly unique. We knew that, ideally, their goal would be to stay put, especially with such a limited amount of commercial real estate choices to accommodate the company’s unique office and industrial needs,” Walbridge said. “HARMAN has been a client of ours for more than 10 years, and Marcus and I were pleased to be able to negotiate satisfactory terms that allow them to remain where they are already comfortable and tailor the new planned space in such a transformative way.”

“HARMAN’s 8500 Balboa location has been the global center for audio innovation and technology for nearly 50 years and now we look to continue that long legacy by making an investment in the facility which will carry us into the future,” said Brian Divine, President, HARMAN Professional Solutions. “Being a global technology center, it was important that the space is best suited for our employees’ needs for creativity, collaboration and future growth while also attracting new talent. We are excited to continue being a part of the San Fernando Valley business community.”