The four-and-a-half year agreement will allow Foxconn to take an additional 172,800 sf at the industrial complex. Foxconn already occupies the remaining space at the 406,000-sf property, which also contains more than 10,000 sf of office space. The company will now be the complex's sole occupant, according to Shan Lee, a Daum Commercial Real Estate broker who worked on the deal.
The sublessor, Concord Disc Manufacturing, has relocated to another facility. The company never even occupied the building, according to Lee. "They were using the facility for storage," he says.
When Concord left the facility, which is located at 486 Lambert Rd., it was just a shell. Now it is being built out to Foxconn's specifications, says Lee, who represented both Concord and Foxconn in the new sublease.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
