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SANTA ANA, CA—Yokohoma Tire Corp. has renewedits commitment to Southern California by selling its former439,567-square-foot US headquarters and warehousefacility at 601 S. Acacia Ave. inFullerton and leasing 57,624 square feet of spaceat 1 MacArthur Blvd. here for its newheadquarters, in addition to leasing a new 658,756-square-footdistribution center at 16388 FernAve. in Chino, on which GlobeSt.com reported in July. The move amounts to “thecomplex task of strategically positioning Yokohama's office andwarehousing functions in their respective locations, resulting indramatically increased capabilities,” says BenSeybold of CBRE Inc.

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Seybold and Andrew Morrow represented Yokohamain all three transactions. “After nearly 30 years in thecorporate-headquarters and warehousing location originally built byYokohama, they decided to move to support their business growth,”says Morrow.

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Jeremy Kahrs, senior director of corporateplanning, logistics and supply chain with Yokohama, tellsGlobeSt.com, “Yokohama Tire has been a California corporation since1969, and we recognize that our employees have personal connectionsto the area. We are aggressively transforming many aspects ofour business to position Yokohama for growth in North America, andwe have many projects underway that hinge on the experience anddedication of our employees. Our objective in the relocationof our US headquarters is to allow continued growth whilemaintaining stability of the workforce that is driving thatgrowth. We concluded early in the project that we would remainin Orange County.”

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The Fullerton building is a 24-ft. to 26-ft. clear, concretetilt-up structure with loading on two sides, ample dock-high andgrade-level loading doors, abundant parking, drive-aroundcapability, is divisible and has a fenced yard for significanttrailer storage. The tire company occupied and owned the Fullertonbuilding before selling it to KTR DC III LLC for$42.7 million. CBRE's Michael Kendall, Darla Longo, BarbaraEmmons, Seybold and Morrow represented the seller in thetransaction.

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“North Orange County is one of the strongestindustrial submarkets in Southern California,certainly leading in Orange County,” says Kendall. “Rental ratesare rising quickly, and the competition amongst investors toacquire good, functional product is intensifying.”

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Seybold adds, “With the vacancy rate for buildings over 200,000square feet in Orange County at a low 2.3%, this building will seestrong demand from tenants. It has a flexible design and either asingle or two-tenant configuration that will accommodate an arrayof tenants.”

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The new distribution center in Chino is a state-of-the-artcross-dock building with 32-ft. clear, an upgraded ESFR sprinklersystem, ample trailer parking space and 116 dock-high loadingdoors. Yokohama leased the build-to-suit centerfor 15 years from Invesco, expanding themanufacturer's warehouse to more than twice the capacity of itsformer warehouse. CBRE's David Consani, JoeySugar, Seybold and Morrow represented the tenant in thetransaction.

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“The new building in the Western Inland Empire region reducedYokohama's drayage costs compared to other possible locations, andthe building features will significantly enhance Yokohama'slogistic capabilities,” says Morrow.

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Lastly, the new headquarters here property features graniteexterior and reflective glass, large and flexible floor plans, anopen courtyard and fountains and subterranean parking. Yokohamaleased the property from Equity Office for 10years. CBRE's Scott Kenny, Garrett Ellis, Seyboldand Morrow represented the tenant, while the firm's DeanChandler and John Weiner represented thelandlord.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.