Industrial User Consolidates to New Space

CYPRESS, CA-Cavotec, a leading system designer and integrator for the global airports, maritime ports, mining and general industry sectors, has signed a new 159,943-square-foot industrial lease at 5665 Corporate Ave. here. The tenant will occupy the space for its regional headquarters and US West Coast manufacturing and distribution.

Jones Lang LaSalle Orange County team members Louis Tomaselli and Garrett McClelland represented Cabotec Dabico in the transaction, while landlord LBA Realty was represented by Rick Ellison and Randy Ellison of Cushman & Wakefield.

The Cypress facility provides a consolidation of Cavotec's current Fullerton and Costa Mesa operations under one roof, with major expansion capability for the next 10 years. McClelland tells GlobeSt.com, “If companies can consolidate into a prominent headquarters facility now, they may prove to be far better off as all indications point to an improving market in the next few years. This trend will continue until all the functional product has been absorbed and in many submarkets it's already too late with no headquarters facilities left.”

McClelland adds that businesses have always been attracted to Orange County because of its corporate appeal and strategic location in between Los Angeles and the Inland Empire. “Those companies that have recently planted corporate roots here recognize the current market position and have some urgency as they see appreciation on the horizon.”

Tomaselli said in a prepared statement that despite the challenges we read about within the state, Southern California still boasts one of the largest manufacturing bases in the country. “Cavotec's major expansion of manufacturing and assembly within the airport and port engineering-products sector confirms the recovery and continued improvement and proves that businesses are expanding within the region.”

As GlobeSt.com reported in April, JLL brokered a new 15-year, 205,887 square-foot industrial lease with Glenair Inc. at 500 E. Cerritos Ave. in Anaheim. Glenair will occupy the space for manufacturing and expects to add up to 300 new jobs over time.