David Bales of Lee & Associates Los Angeles - Long Beach (middle) with Brett Chambless of Lee & Associates in Atlanta (left) and Christian (Kit) Mattson (right) of Lee & Associates in Seattle!
Lee & Associates Completes $6 Million Office Lease Renewal on Behalf of Pac West Office Equities LP4/1/2019 Cypress, CA – April 1, 2019—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed a 7-year lease for a 27,699 square-foot office space located at 10801 Walker Street in Cypress. The value of the lease is approximately $6 Million. Jeff Coburn, CCIM, SIOR and Shaun R. McCullough, CCIM, SIOR of Lee & Associates Los Angeles – Long Beach represented the landlord, Pac West Office Equities, LP. The tenant, Reliance Steel and Aluminum Company, was represented by Mike Catalano from Savills Contact:
Shaun R. McCullough - (562)354-2517 / [email protected] Jeff Coburn- (562)354-2511 / [email protected] Printing Manufacturer Adding Space in Move to Los Alamitos to Accommodate Growth Epson America, one of the world’s largest technology and printing companies, has hit the button on a move from its long-time headquarters in Long Beach, California, to Lincoln Property Co.’s newly renovated office park in the Orange County city of Los Alamitos, California.
The company – now wrapping up a 10-year lease of five floors at Kilroy Airport Center in Long Beach that is set to expire in October – will move 600 employees in summer 2020 into two buildings at Lincoln’s Katella Office Campus at 3131 Katella Ave., four miles from its current headquarters , according to a Lincoln Property spokeswoman. Lincoln Property recently completed major upgrades to its Katella campus, including open office space, new conference and technology lab facilities, in addition to space designed for an Epson Experience Center, which will house product demonstrations. The renovation by Lincoln Property’s West Coast arm, LPC West, stands out because of the lack of available modern office space in Los Alamitos and Stanton, located on the northwestern tip of Orange County and bordering Los Angeles County. What minimal office stock exists in the predominantly industrial and service-focused area is mostly older, lower-quality buildings, and the area is “notable for the complete lack of high-end properties,” according to a market report by Katerina Cheok, an analyst covering Southern California with CoStar Market Analytics. In addition to its Katella office renovation, Lincoln Property has been busy in nearby Tustin, California, where it is preparing to open Flight at Tustin Legacy, the first modern creative office to be built in the submarket. Epson's 150,000-square-foot Katella lease in Los Alamitos blows past the previous record for an office lease in the area during the past 10 years: The California Department of Fish & Game's lease for 32,000 square feet at 4665 Lampson Ave. Epson's new headquarters will be 30,000 square feet larger than its current space in Long Beach, which was developed by Los Angeles real estate investment trust Kilroy Realty Corp. in 1999. “Considerable thought went into making this strategic decision,” said Keith Kratzberg, Epson America president and chief executive, in a statement announcing the move. “Ultimately, ensuring that our employees have the world-class facilities necessary to continue to innovate, compete, and build careers was our top priority.” The new campus in Los Alamitos will house Epson units dedicated to digital signage, laser projection, enterprise workgroup and large format printers. The new space also allows Epson the opportunity to further its commitment to environmental sustainability through electric vehicle (EV) recharging stations and increased efficiency in building systems, in addition to employee wellness through spaces dedicated to employee collaboration, rest, focus and fitness. Epson’s existing warehouse facilities will remain at its current location in Carson, California. For the Record: Rick Warner and Chip Warner of CBRE teamed with Shaun McCullough and Jeff Coburn of Lee & Associates in representing the landlord. Grafton Tanquary III and David Kudrave of CBRE represented the tenant in lease negotiations. CoStar Research Associate Alexis Cruz contributed to this report. To view full article, please visit: https://product.costar.com/home/news/shared/1931012353?source=sharedNewsEmail |
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