Royal Appliance plans to relocate to the new building uponcompletion of tenant improvements at the beginning of May. Hillwoodacquired the building last year from Blackrock in a transactionbrokered by the same CBRE team that represented Hillwood in theRoyal Appliance lease: Frank Geraci, Walt Chenoweth, Juan Gutierrezand Patrick Wood of CBRE's Ontario office.
Chenoweth says the new lease produces positive cash flow forHillwood soon after an acquisition in a slow market. RoyalAppliance, which now occupies a 349,000-square-foot facility in theWest Inland Empire, manufactures brands including Hoover and DirtDevil vacuum cleaners.
Royal Appliance was represented by Jeff Smith and Jeff Hubermanof Lee & Associates. The five-year lease is valued at more than$5 million.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
