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California  + Orange County  + Industrial  | 
Lakeview

Oadeer Home and EXPO Convention Commit to Nearly 100K SF

Oadeer Home and EXPO Convention Contractors recently leased 93,383 square feet of space at a newly built industrial center in Placentia in North Orange County. Oadeer, a home furnishing wholesaler previously based in Chino, signed a seven-year lease for 54,774 space, and EXPO Convention Contractors, a Florida-based specialty tradeshow contractor, committed to 38,608 square feet, also for seven years.

The class-A freestanding project at 718 and 719 Lakeview Loop Way features a fenced and secured yard area, 32-foot minimum warehouse clearance and abundant loading. Oadeer Home will use the new space as its Southern California headquarters while EXPO Convention Contractors plans to utilize the space as its new warehouse location.

CBRE’s Sean Ward and Ben Seybold represented the local private landlord.

“High-quality industrial space is extremely hard to find these days,” said Ward. “We had multiple offers on the property and signed both leases at completion of construction at record-high lease comps.”

Pricing for industrial property in Orange County has surged during the last year, according to CBRE’s first quarter research. The average asking lease rate increased 4.7 percent since fourth quarter 2020 to $1.12 per square foot, reaching a record high.

“The Placentia properties leased close to 20 percent above the record-high average asking lease rate,” added Seybold. “The tightness of the market coupled with rising demand is driving the steep climb in pricing.”

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Sean Ward

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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