(Read more on the industrial market.)
PANORAMA CITY, CA-Principals of the Zodax home décor firm hadplanned to own and occupy a 200,000-sf building here, but they havedecided to make way for a new tenant in a 10-year, $16-millionlease. The new occupant of the building will be Gruma, the world'slargest tortilla company, which will fill all of the space at the14200-14220 Arminta Ave. building owned by Zodax.
According to brokers for Zodax, David Hoffberg and Jerry Scullinof Delphi Business Properties, the home decor and accessoriesfirm's principals fully intended to occupy half of the building forexpansion and lease the balance when they bought the property inDecember. But after Zodax moved in, the company learned that Grumawas looking for space in the San Fernando Valley and was interestedin the Arminta Avenue facility.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
