Industrial Highlights Orange County | Q3 2014 The Orange County industrial market continues to gain steam in leasing activity across the board as rental rates rise, especially in the 100,000- to 200,000-square-foot building size range. Leasing activity Airport Area • Stauffer’s Biscuit, a large consumer goods company, signed a 120month lease renewal for 217,000 square feet at 4041 W. Garry Avenue in Santa Ana • Montrose Environmental, an air quality and environmental laboratory services provider, signed an 88-month direct lease for 38,551 square feet at 1631 E Saint Andrew Pl in Santa Ana. • BCL Creative, an organic spa product manufacturer, signed a 62month direct lease for 29,645 square feet at 350 Kalmus Drive in Costa Mesa. • Warrior Engineering, a cutting-edge engineering and design solutions firm, signed a 48-month direct lease for 21,600 square feet at 1751 Kettering Street in Irvine. North County • Arden Engineering,an aerospace engineering firm, signed a 120month direct lease for 144,000 square feet at 3130-3150 E Miraloma Avenue in Anaheim. • Wurth Louis and Company, a wholesale distributor of woodworking supplies, signed a 60-month lease renewal for 115,494 square feet at 895 Columbia Street in Brea. • Mondelez International, a multinational confectionary, food and beverage conglomerate, signed a 60-month lease renewal for 102,361 square feet at 6201 Knott Avenue in Buena Park. • Dae Shin USA, a textile manufacturer, inked a 60-month lease renewal for 96,960 square feet, at 610 N. Gilbert Street in Fullerton. South County • Masimo Corporation, a manufacturer of non-invasive patient monitoring technologies, committed to a 60-month lease renewal for 70,205 square feet at 40 Parker in Irvine Spectrum. • Wes-Tec, Inc., a wireless communications product, service, and infrastructure provider, signed a 36-month sublease for 19,080 square feet at 61 Columbia in Aliso Viejo. West County • Mission Critical Composites, an aerospace product and parts manufacturing company, signed an 87-month lease for 56,793 square feet at 15400 Graham Street in Huntington Beach. Vacancy Rents Net absorption Leasing volume Sales prices Sales volumes Construction deliveries Arrows represent change from prior quarter • C&D Zodiac, Inc., an aerospace equipment and systems developer, committed to a 36-month direct lease for 31,500 square feet at 5900 Katella Ave Bld. C in Cypress. Sales activity • KTR Capital Partners, bought 439,567 square feet at 601 S Acacia Ave in Fullerton from Yokohama Tire Corporation for $42.8 million ($97 per square foot). • Turner Development Corp., bought 176,450 square feet at 1311-1347 Blue Gum St in Anaheim from TW Investment Corp. for $19.4 million ($110 per square foot). • Michael Nicholas Designs, Inc., acquired 139,592 square feet at 2330 Raymer Ave from M. Parkinson & Co., Inc. for $12.6 million ($91 per square foot). • Sukut Construction, Inc., bought 70,000 square feet at 7272 Chapman Ave in Garden Grove from 7272 Chapman LLC for $9.6 million ($138 per square foot). Construction activity • Phase I of Anaheim Concourse (626,404 square feet of warehouse and distribution product) is anticipated to deliver by the end of the year. • Phase III of Anaheim Concourse (428,899 square feet of warehouse and distribution product) is anticipated to break ground early next quarter. For more information, please contact: Ryan Pires Research Analyst Orange County +1 (949) 885-2953 [email protected] ©2014 Jones Lang LaSalle IP, Inc. All rights reserved. No part of this publication may be reproduced by any means, whether graphically, electronically, mechanically or otherwise howsoever, including without limitation photocopying and recording on magnetic tape, or included in any information store and/or retrieval system without prior written permission of Jones Lang LaSalle. The information contained in this document has been compiled from sources believed to be reliable. Jones Lang LaSalle or any of their affiliates accept no liability or responsibility for the accuracy or completeness of the information contained herein and no reliance should be placed on the information contained in this document.
© Copyright 2019