According to corporate managing director Jeff Cannon of Studley, the CPU2 renewal is likely to be one of the largest industrial leases in Orange County in 2008. Cannon was part of a Studley team including managing director Tim Schramm and associate Paul Jones of the firm's Orange County industrial team represented CPU2. Landlord Kilroy Realty was the represented in-house by Janelle Strand.
Cannon comments that the Orange County industrial real estate market "imposes many challenges on companies seeking large spaces," one of which is finding suitably sized relocation options that can accommodate their space needs. At first, CPU2's landlord was reluctant to renew the company's lease, Cannon explains. Ultimately, after a year of negotiation, the landlord and tenant signed a deal that represented "favorable lease terms for our client," Cannon says.
Facing the California 241 Freeway, which is also known as the Foothills Toll Road in Orange County, the class A industrial space that CPU2 occupies is one of only several industrial buildings over 300,000 sf in South Orange County. The logistics and telephone services company provides fulfillment services, call center solutions, packaging , mailing and other services for its clients. The company has manufacturing facilities in North Carolina and Louisiana in addition to its Foothill Ranch operations.
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