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Tenant Signs King-Sized Lease at Crowther Ave. Industrial
King Van & Storage Inc. recently inked a new lease for the entire 58,400-square-foot freestanding industrial building located at 888 W. Crowther Ave. in Placentia, according to JLL. King Van & Storage will use the space for its moving business.
JLL’s Garrett McClelland represented the landlord, Staley Point Capital, in the lease. King Van & Storage Inc. was represented by CBRE.
Staley Point Capital acquired the vacant building in August 2021 for $15 million with McClelland representing the firm in the purchase. The firm made some improvements while marketing the building for lease.
“In a North County submarket where industrial vacancy is at 1.5 percent, we were able to secure a proven tenant who saw the value of a recently renovated well-located distribution building,” said McClelland. “The Orange County industrial market continues to thrive with record low vacancy, very little supply and increasing demand from tenants. We expect 2022 to be an even stronger market as companies figure out how to infuse supply into the market through conversions or zoning changes.”
- ◦Lease
