(SEPTEMBER 20, 2023 – TORRANCE, CALIF.) – The Klabin Company/CORFAC International today announced it finalized a long term lease renewal and expansion at 14001-14003 Orange Ave in Paramount, Calif., on behalf of Drees 14003 Orange, LLC, owner of the premier industrial facility. The tenant is A.M. Castle & Co., a leading provider of metals, services and supply chain solutions who will expand its operations from a portion of the building to the entire 282,000-square-foot property.
The Klabin Company’s Team—comprised of Warren, Kimberly and Travis Noack, Frank Schulz and Tyler Rollema—represented the Landlord, Ed Drees, in the 84-month lease transaction valued at over $46 million. Team Noack’s relationship with Mr. Drees dates back over 35 years and included the transaction in 2008 when it represented him in the acquisition of the subject property. A.M Castle & Co. was represented by Fisher and Co. Real Estate Services.
The expansive, concrete tilt-up building at 14001-14003 Orange Ave includes 40,542 square feet of office space, a portion of which will be fully refurbished for A.M. Castle. The property offers an excellent distribution location with immediate access to the 710, 105 and 91 freeways. It features 270 parking spaces, 20 dock-high loading positions, seven ground-level doors and 39’ minimum ceiling height.
“A.M. Castle had an immediate need for more space and was interested in expanding into the entire square footage offered in this well-located property,” said Warren Noack. “They’ve been an excellent tenant for our client for many years, so when the opportunity to renew them and provide them with the ability to expand into the balance of the building came about, it was a win-win. We’re pleased to have negotiated this long-term renewal so that both parties can extend their relationship for years to come.”
About The Klabin Company/CORFAC International
Now in its seventh decade of operation, The Klabin Company/CORFAC International is ranked among the top commercial real estate companies based in Los Angeles. Built on the principles of an open and enduring culture, the company has maintained its independence as a privately-owned business since 1961. The Klabin Company emphasizes how the sharing of information, experience and relationships among all colleagues works to everyone’s advantage. The firm is dedicated to the needs of its clients, and through this commitment, it has remained successful for years. The Klabin Company is affiliated with CORFAC International.
About CORFAC International
CORFAC International is a global network comprising private held entrepreneurial commercial real estate firms with expertise in office, industrial and retail brokerage, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 75 offices in the U.S., Canada and international markets, including Australia, France, Germany, Ireland, Italy, Japan, Malaysia, Mexico, Netherlands, Romania, Russia, Singapore, South Korea, Switzerland, Thailand and United Kingdom. CORFAC offices close an average of 10,000 lease and sales transactions valued in excess of $9.0 billion annually, totaling 500 million square feet closed and 65 million square feet managed worldwide. Contact Jonathan Salk, CORFAC Executive Director, at (224) 257-4400