Ashley is expected to move into its new space in the third quarter, occupying what formerly was a research and development facility. Arden's in-house construction team is working with Ashley Furniture Homestores to redevelop the space to accommodate the showroom.
The Ashley Showroom space represents approximately 17% of the total at Savi Tech Center, which is approximately 360,000 sf in four buildings. The development was originally designed and built as an R&D project and was occupied by R&D type companies.
Over the past 18 months, Arden has repositioned the project into a combined office, R&D and showroom development with Viasys Healthcare occupying 130,000 sf and First American Real Estate Solutions occupying 47,000 sf. Nobel Biocare occupies the 122,000 sf in the two remaining buildings and is the only remaining R&D tenant in the project.
The deal marks the second significant commitment to Southern California space in recent weeks by Arcadia, WI-based Ashley. In the other, in the Inland Empire, the company signed a lease for a new 683,000-sf warehouse in Redlands.
Arden was represented internally by Andy Batcheller, senior portfolio leasing manager, along with Steve Batcheller and Ben Seybold of CB Richard Ellis. The tenant was represented by Paul Wyne of Clarion Real Estate and Ken Gould of Lee & Associates.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.