Lee & Associates Negotiates 5-Year Lease for Cal State Long Beach Technology Park
LONG BEACH, CA – November 25, 2013 – (RealEstateRama) — Gregory Gill, SIOR, CCIM, Garrett Massaro and Brandon Carrillo of Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, have negotiated a 5-year lease at the California State University Long Beach (CSULB) Technology Park at 2200 – 2250 Technology Place, Long Beach. The tenant, Primex Agriculture Services, will occupy the 104,737 square-foot space that DAMCO Distribution recently vacated earlier in the year.
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“Our facility being located in the Heavy Weight Corridor and its close proximity to the Ports were the drivers for Primex to lease our property,” said Gill, who along with Carrillo and Massaro, represented the landlord CSULB and Watt companies, a provider of comprehensive and diversified real estate services across the U.S. to investors and partners, homebuyers and commercial customers. “Receiving multiple offers, seeing improving market conditions and limited supply of large Class A buildings in the Heavy Weight Corridor, Watt Companies and CSULB were pleased with the work of Lee & Associates in locating a new tenant after the void left by DAMCO.”
With over two million square feet of core retail space in 40 shopping centers located largely in Southern California, Watt Commercial Properties is a leader in developing, redeveloping and managing neighborhood and community shopping centers in urban markets. Most of Watt’s centers are grocery and drug store-anchored and include a strong mix of independent, regional and national chain retailers. A division of Watt Companies, Watt Commercial Properties is a diversified real estate company that, over the past 60 years, has developed over eight million square feet of industrial and office space, and built more than 50 shopping centers, homes for over 100,000 families, three major first class hotels and six major master-planned communities.
CSULB Technology Park has rare Class A properties located in the Heavy Weight Corridor. It is strategically located close to the Ports of Long Beach and Los Angeles. The buildings have many amenities that draw local, national and global tenants.
Primex Agriculture Services Inc. is a part of a larger world wide conglomerate that will be utilizing the Long Beach facility to export alfalfa products to China and Asia Pacific Countries, and creating up to 20 full time workers. Primex Agriculture Services Inc. was represented by Zac Sakowski and Barry Hill of Jones Lang LaSalle.
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 48 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, Texas and Wisconsin. With a roster of nearly 750 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.
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