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.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.