A company looking to relocate and lease space in today's tight industrial market that can create a domino effect in both directions. How can a real-life true story of another company's experience help you in making your next real estate decision?
We recently represented a company looking to expand their warehouse operations from Buena Park, CA to Cerritos CA, adding approximately 40% to their existing operational floor space.
Due to today's current market conditions, that exercise proved to be a lesson in coordination, flexibility, creativity and timing. Our client's Buena Park lease was coming due at their existing location while the space we identified as the best available alternative to relocate in Cerritos was not going to be deliverable for 60 days after their current lease expired. In addition, the tenant who was moving out of the Cerritos location to a property in Norwalk was getting delays from the city of Norwalk due to the tenant improvement approval process. You can see the dominoes starting to stack up...
Christopher J. Destino, SIOR, a Principal at Lee & Associates, is an engaging, responsive professional who enjoys working closely with his clients and helping them succeed.