Industrial users are on the hunt again for larger spaces in OC, but organic growth isn't the only reason, CBRE SVP Dave Desper tells us. (If you forget it's your anniverary, sometimes you'll buy anything on the way home.)
Accurate Metal Solutions of Anaheim was obliged to relocate when its existing location was sold for residential development. Dave tells us the company inked a 144k SF lease at 3130 Miraloma--a high-end, second-generation building designed for a manufacturer with heavy power requirements. The company picked the new site for location, power, and a layout that allows it to go from four buildings to one while occupying roughly the same amount of space. Dave repped the tenant; the landlord is TIAA-CREF Global Real Estate.
Good old-fashioned organic growth is spurring a lot of other large industrial leases in Orange County, Dave adds. In another recent deal, an industrial space user leased 109k SF at 3100 S Susan St in Santa Ana after outgrowing its old facilities. Dave repped the tenant, with CBRE SVP Chip Wright repping the landlord, Alere Property Group. It was important to the tenant that the new facility be fairly close to the old one, the better to retain existing employees. (Once everyone knows your name at the local Starbucks, it's hard to switch.)
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