ZPower Renews Industrial Lease

CAMARILLO, CA-ZPower, the global provider of silver-zinc rechargeable battery technology for microbattery applications, has completed a lease renewal transaction for the 43,272-square-foot industrial property it currently occupies. The landlord of the property is a private REIT.  

“ZPower is expanding the applications for its cutting edge technology, and recently entered into several technology partnerships that will accelerate its growth,” says John Ochoa, Lee & Associates-LA North/Ventura. Ochoa, along wit Lee & Associates principal Grant Harris, represented the tenant and the landlord in the transaction. “It's especially gratifying for us to watch a client go from startup to become a preeminent company in its field.” The brokers were not available for further comment.

ZPower has occupied the location for the last seven years, which serves as its headquarters. The company has strategic partnerships with Intel Corporation, OnPoint Technologies, and PowerVentures.

Southern California's industrial market is largely driven by big box users, occupying 500,000+-square-foot industrial spaces. However, demand for smaller industrial space under 100,000-square-feet, like this property, has been picking up. In an interview about the Southern California industrial market, Bart Reinhard, JLL managing director focusing on industrial space, explains that vintage product in the smaller sizes will begin to pick up as smaller and mid-sized distributors enter the leasing market. For this reason, he explains, groundbreakings are also picking up for smaller-sized units.