Built in 1979, the facility is part of Harbor Gateway. Located at 1580 Sunflower, the building features 10 dock-high doors and 1600 amps of power, as well as a 22-ft clearance height. The 27-month sublease is valued at more than $810,000. The agreement includes a tenant improvement allowance of $1 per sf.
The sublessee, Alfred's Picture Frames, was represented by David Desper of CB Richard Ellis' Newport Beach office. Desper, along with CB Richard Ellis colleague Philip Cohen, acted on behalf of the sublessor, Q-Run Corp.
Orange County's industrial sector is expected to see an increase in sublease space in the months ahead, according to a recent report by Grubb & Ellis Co. This space is becoming a significant market factor, as it is forcing landlords to offer renewals at more competitive rates.
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