X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

POWAY, CA-In another illustration of the record absorption of finished North County industrial space, moving company North American Van Lines has signed a seven-year lease for 176,279 sf in a business park owned by Legacy Partners.

The property, located at 14005 Kirkham Way in the Legacy Stowe Business Centre, was leased from Legacy Partners for $8.92 million. North American plans to occupy the space on Feb. 1 and will be consolidating operations from three Miramar properties into the center.

The new space will be used for storage and distribution. North American Van Lines was represented by Steve Rosetta of Cushman & Wakefield. The property was leased from Legacy Partners LLC, with Gary Katz as portfolio manager. Dennis Visser, Matt Kelly and Dave Smith of Business Real Estate Brokerage Co. represented Legacy Partners.

Record levels of construction are under way to meet the sharp demand for both industrial and office space in the county. Poway is particularly popular among industrial tenants, brokers say.

“There is substantial pre-leasing of space under construction, and there is still a long list of companies requiring new space,” says Robert Freund, VP and director of investment services for Colliers International. “Scarcity of vacant, entitled land and restrained capital availability means construction is still lagging demand in several markets.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.