Turner points out that multiple prospective tenants vied for the space in the Dyer road building, "despite the tough market conditions." He says the tenant interest in the space is "a good indication that the region has a shortage of quality buildings." Turner and Mike Hartel of Voit's Irvine office represented the landlord, 601 West Dyer Road LLC, in the $13.5 million Schnioda lease. The LLC bought the building from Los Angeles-based Rexford Industrial in November.
"It is very impressive that such a large amount of space was completely absorbed in such a short amount of time--in only 30 days post completion of the rehab--especially considering current market conditions," Turner observes. Turner and Hartel represented both 601 West Dyer Road LLC as the buyer and Rexford in the November sale, after which the new owners finished refurbishing the property. Schnioda Design Center, which was represented by Doug Shinoda of Ashwill and Associates, will use the entire building for wholesale distribution of silk flowers and accessory design products.
 25550 Commercentre Dr. |
"This location has served Lake Forest well," Harty comments. "The city has become accustomed to conducting business from this building, and its residents are familiar with the location." The city was represented by Brett Merz and Wayne Lamb of Cresa Partners.
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