Accurate plans to occupy the building for its sheet metal operations in the third or fourth quarter of this year, according to Socci, who is an executive vice president in the Anaheim office of Voit. The metal fabricating company will increase its efficiency by redesigning its manufacturing process in the new building, he says.
Socci comments that, "As the industrial real estate market begins to slowly rebound, there are many opportunities for tenants looking for quality space with competitive market rates." Accurate Metal was represented by Dave Desper of CB Richard Ellis in the lease, terms of which were not disclosed.
Average asking lease rates for industrial space in Anaheim were 50 cents per square foot per month at the end of the fourth quarter, according to a recently issued market report by Voit. That compares with a county-wide average asking rate of 59 cents.
The Accurate Metal lease is one of two large industrial leases signed in Orange County recently by Kilroy, a REIT that owns office and industrial properties. In the other deal, signed in December, a company called the Dot Printer signed a six-year lease for a 103,380-square-foot industrial building at 2525 Pullman St. in the Irvine Business Complex.
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