First Industrial Leases, Sale Total 361,000 SF

First industrial signed Avalon Shutters Inc. to the 165,000-square-foot lease in Perris. The lease is for an entire building at 100 W. Sinclair, which will serve as the corporate headquarters for Avalon as well as for manufacturing and distribution.

[IMGCAP(2)]Ryan McClean, senior regional director for First Industrial's Los Angeles region, tells GlobeSt.com that Avalon, a manufacturer of custom natural wood shutters, has already occupied the 165,000-square-foot, freestanding building. The space in Perris is a relocation from Fontana for Avalon, which manufactures and distributes its products for customers in the Western US.

In Thousand Oaks, First Industrial signed a multi-year lease renewalwith a corporate tenant for a 96,000-square-foot facility at 1011 Rancho Conejo Blvd. The lease was expiring, and the renewal is for the full amount of space that the tenant previously leased.

The 100,000-square-foot building that First Industrial sold is at 350-390 Manville Ave. in Compton and was acquired by a manufacturer and distributor of sporting goods and related apparel for $8.2 million.

On the Avalon Shutters lease, the tenant was represented by Michael Giuliano of Lee Associates and First Industrial was represented by Rick Scheckter of Grubb & Ellis. On the Thousand Oaks deal, First Industrial was represented by Nick Gregg and Ken Ashen of CB Richard Ellis, with Bob Rosenthal, Mike Cissell and Matt Hargrove of Cushman and Wakefield representing the tenant. In the sale of the Compton building, the buyer was represented by Brad Levin of Daum Commercial Real Estate Services, the seller by Brett Quinlan, Jeff Morgan and John Schumacher of CB Richard Ellis. 

First Industrial owns and manages approximately 2.4 million square feet in its Los Angeles region. The company's portfolio of industrial space owned, managed and under development totals 93 million square feet.