NEWPORT BEACH, CA-Bixby Land Co. has leased a 412,000-sf warehouse in Redlands to ICON Health & Fitness in the latest in a series of recent industrial and office deals by the locally based investment and development firm. ICON's lease is for a building at 2220 Almond Ave. in a $10.3-million deal that marks the second major lease announced by Bixby recently in the Bixby Redlands Business Center, a 227-acre masterplanned business park.
The Redlands location will serve as the primary US corporate warehouse and distribution facility for ICON, which formerly operated its primary warehouse in Logan, UT. The company is one of the largest manufacturers and distributors of fitness equipment in the world, with brands including NordicTrack, Prof-Form, Weider, Healthrider, Freemotion Fitness, Image, Weslo, Epic, Reebok and Gold's Gym.
Bixby was represented in the deal by Mike McCrary, Peter McWilliams and Ruben Goodsell of Colliers International. ICON was represented by Teresia Knight and Brian Childs of NAI Capital along with Al Lieberman of DJM Realty.
The other recent major lease by Bixby at the Redlands Business Center was a 73,500-sf deal with the US Postal Service. As reported on GlobeSt.com recently, the USPS has installed mail handling equipment throughout the building, where it plans to employ approximately 100 workers.
Another of Bixby's recent industrial deals was the sale of a 115,186-sf building at 1650 Sunflower Ave. in Costa Mesa. The buyer in that deal was Panattoni Development Co. of Sacramento.
In addition to its industrial deals, the locally based company recently closed on its $345-million acquisition of a portfolio of Orange County office buildings from Los Angeles-based Maguire Properties, thereby adding 11 buildings totaling 816,000 sf at five locations in Newport Beach, Irvine and Seal Beach to its portfolio. Besides the space it acquired, Bixby plans a new 100,000-sf, four-story office building on a development site at 17300 Red Hill Ave. in Irvine that was part of the deal with Maguire.
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