X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

IRVINE, CA-The Dot Printer has signed a six-year lease for a 103,380-square-foot industrial building at 2525 Pullman St. in the Irvine Business Complex, according to Sares-Regis Group, which represented the tenant in the lease with owner Kilroy Realty Group, a Los Angeles-based REIT. The Dot Printer specializes in lithography, fulfillment and distribution services in three major West Coast markets.

Because of a long-term relationship with the Dot Printer, Sares-Regis Group acted on the tenant’s behalf, according to Michael Wood, director of leasing with Sares-Regis Group’s commercial property services division. The lease is valued at approximately $3 million for the six-year term.

Wood notes that the Dot Printer is relocating and expanding operations from two smaller, local facilities that total 80,000 square feet. Kilroy Realty was represented by senior vice presidents Tim Joyce and Wade Tift of the Newport Beach office of Grubb & Ellis Co.

The 103,380-square-foot deal is among the larger deals signed lately in Orange County, where the industrial market industrial vacancy rate increased to 6.5% during the third quarter, up 30 basis points from the second quarter, according to the latest market report from Grubb & Ellis. Although the industrial market has weakened as a result of the recession, industry observers not that it remains stronger than the county’s office market, which has been among the hardest-hit in the country. So far in 2009, the industrial market has recorded more than thre million square feet of negative absorption, according to the Grubb & Ellis third-quarter report.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.