Deutsche Inks Largest Lease in West OC

CYPRESS, CA-Hybrid Promotions LLC has signed a new five-year lease with landlord Deutsche Asset & Wealth Management to relocate its distribution facility to Cypress Technology Center, a 173,990-square-foot industrial building located at 5757 Plaza Dr. here. The lease, valued at approximately $6 million, represents the largest lease by square footage in West Orange County so far this year.

CBRE's SVPs Rick McGeagh, Bob Goodmanson and Dave Desper represented Deutsche in the transaction, while the tenant was represented by EVP John Privett, senior associate Steve Young and first VP Cameron Merrill.

“Hybrid's expansion and relocation of this strategic location is another example of larger firms taking advantage of relatively good economic leasing values as the market continues to recover,” said McGeagh in a prepared statement.

Young tells GlobeSt.com that the deal “is the largest new (non-renewal) industrial lease transaction in West Orange County since August of 2009.” He added in the statement that Hybrid Promotions is a successful apparel designer, developer, producer and distributor for some of the largest retail establishments in the US. “They are a growing company and needed to find a larger building for their distribution site. Our client is expanding and consolidating some of their operations, and this building matches their needs, especially with the larger office space.”

Cypress Technology Center is situated between the 405, 605 and 22 freeways. It has close access to Long Beach and Orange County airports and the ports of Los Angeles and Long Beach. The building features approximately 14,000 square feet of corporate office space, 20 dock-high positions, four ground-level doors, high clearance heights, a large loading area and strip fluorescent lighting. The area is surrounded by restaurants, hotels and retail establishments.

As GlobeSt.com reported in May, Sika Sarnafil, a roofing company for large-scale commercial, sports and industrial projects, signed an eight-year lease for a 63,016-square-foot free-standing industrial building at the Cypress Corporate Center. The building will be used for warehousing and distribution. Colliers International's senior EVP Clyde Stauff represented the tenant in the transaction, while property owner Cypress Land Co. was represented by Sam Chu of CBRE.