CBRE Brokers Record-Setting Office Lease in Malibu

CBRE announced that a confidential tenant has leased all remaining available space at the Malibu Vista office building in Malibu, California. At 34,373 sq. ft., the lease is Malibu’s largest office lease in more than a decade.

CBRE’s Stan Gerlach and Jeff Gerlach represented Malibu Vista’s landlord, PC Malibu LLC.

“Despite lingering uncertainty in the office market, our team was able to market this property to both local and national tenants, ultimately attracting a national tenant to lease all remaining vacant space at the property,” said Jeff Gerlach, First Vice President, CBRE.

The lease is nearly double the size of the next-largest office lease in Malibu over the past 10 years, which was also arranged by CBRE’s Gerlach team. That lease occurred in 2016 for 18,643 sq. ft. at 22809 Pacific Coast Highway. The average office tenant size in Malibu is approximately 2,500 sq. ft.

“We have an incredible team with over 60 years of combined leasing experience,” said Stan Gerlach, Senior Vice President, CBRE. “Having completed more than 25 million square feet of leases across the westside and beach communities, we were able to bring both the knowledge and experience needed to complete another successful transaction.”

The Malibu Vista office building is located at 22761 Pacific Coast Highway, overlooking the Pacific Ocean. The building is adjacent to Malibu Farms and across the street from Nobu Malibu. Building amenities include a private fitness center, a large courtyard, and multiple outdoor spaces with ocean views.