Industrial Sector Generating Deals in Region

The $5 million mortgage provided financing for 2 Goodyear, a 70,000-square-foot industrial property situated on a 5.16-acre lot in Irvine, according to NorthMarq Capital. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower, a Southern California real estate developer/investor, by senior director Ory Schwartz and managing director Michael Elmore of NorthMarq's Los Angeles Regional office.

The 484,000-square-foot lease brought occupancy to 100% at Kaiser Commerce Center, a ProLogis development of 5.9 million square feet in nine buildings in Fontana. Mike Del Santo, first vice president and market officer for ProLogis, notes that in the past 60 days, the Denver-based REIT has leased just under 1.2 million square feet of recently developed space to major logistics users in the region.

In another recent deal, ProLogis leased 282,000 square feet in the Ontario submarket of the Inland Empire to Columbus, OH-based Safelite AutoGlass. Safelite will occupy space at ProLogis Park Ontario Airport, in a newly constructed, 681,000-square-foot facility.

In a group of leases in Anaheim and Garden Grove in Orange County, six industrial tenants recently signed leases for 200,000 square feet of space at WCV Commercial Properties' Tower Park complex here and its Garden Grove Industrial Park in Garden Grove, according to Voit Commercial Brokerage. The leases accounted for approximately 40% of the 245,192-square-foot Tower Park complex and 50% of the 252,184-square-foot Garden Grove project, according to Louis Tomaselli, executive vice president at Voit Commercial's Anaheim Metro office.

And in one of the largest leases in the county this year, Collier's International senior vice president Stephen Schloemer reports that noodle maker IHOI Inc.leased a 155,805-square-foot industrial building at 14524 Myford Rd., for which Schloemer was the leasing agent. Schloemer partnered with James Min, director of Korean marketing in Colliers International's Torrance, CA office to represent IHOI and the building owner, L & C USA, an affiliate of Hanwha, one of the largest publicly traded companies in South Korea.

On the sales side of the slate, another recently closed deal was China-based Winco DWL Industries Co.'s acquisition of a 44,172-square-foot industrial property in Cerritos, in the Mid-Counties industrial submarket, here that will house the firm's West Coast distribution operations. Winco iks a manufacturer and importer of kitchenware and tableware to restaurants and chefs worldwide.