Los Angeles – Nov. 9, 2021 – CBRE has arranged a 72,275-square-foot lease with Products Engineering Corporation at Sunset Distribution Center in Brea, Calif. CBRE’s Ben Seybold, Rick McGeagh and Sean Ward represented the landlord, Link Logistics Real Estate, in the transaction.
The 101,280-square-foot industrial facility, located at 566 Vanguard Way, features 26-foot clear height, 10 dock-high positions, 3,456 square feet of office space and one ground-level ramp. It is located in the Sunset Distribution Center with proximity to State Routes 57, 60 and 91.
“CBRE was able to employ its network of local and national connections to provide insight into possible tenants, which allowed us to advise our client and provide the best transaction possible,” said Seybold.
“We provided valuable information during lease negotiations so that our client would be successful in securing a tenant that met their requirements and would provide value to the property.”
Limited supply of industrial space in Orange County pushed the year-over-year vacancy rate lower by 60 basis points, while overall asking lease rates shot up about 26 percent to $1.30 per square foot, according to CBRE’s Q3 data.