SAN DIEGO-Retailer Mor Furniture For Less has signed a 10-year lease for 199,359 square feet of industrial space at Brown Field Business Park that is one of the largest industrial leases here in some time, according to Cushman & Wakefield. The company says that Mor’s deal is the largest industrial space commitment in San Diego County since 2006.
Mor Furniture’s new space is at 7757 St. Andrews Ave. The company is relocating its current warehouse and distribution center to Otay Mesa’s Brown Field Business Park from Poway.
Director Charles Adolphe of Cushman & Wakefield comments that the transaction “reflects what we hope to see as a turning point for the industrial market in San Diego, particularly in South County where there continues to be a surplus of inventory.”
Adolphe and Bryan Teel of Cushman & Wakefield represented the landlord, Brown Field Business Park LP. The tenant was represented by Eric A. Northbrook and Sean Williams, also of Cushman & Wakefield. Financial terms of the deal were undisclosed.
Mor has been one of the few retailers expanding and doing deals in Southern California in recent months. For example, the company leased 38,000 square feet earlier this year in Murrieta.
Cushman & Wakefield also brokered an industrial sale in San Diego, where Westcore Properties acquired a 72,205-square-foot building at 5258-5260 Anna Ave. in the Old Town area of the city. Steve Bollert, director of acquisitions and a principal at Westcore, describes the deal as “an opportunity to purchase excess corporate real estate that is functional, well-positioned and located in a strong infill industrial market.”
Westcore bought the property from the San Diego Union Tribune, which was represented by Tom Olson of Coldwell Banker Commercial. Westcore was represented by Mickey Morera and Jeff Brown of Cushman & Wakefield.
Bollert says that Westcore intends to complete minor exterior and interior refurbishments and offer the building for immediate lease or sale. The company has retained Morera and Brown as leasing agents for the property. Purchase price was not disclosed.