Press Release brought to you by Cushman & Wakefield National Industrial
Cushman & Wakefield Completes 123,000-Square-Foot Industrial Lease for Lynx Grills
Lynx Professional Grills, Inc. is a market leader in high-end outdoor grills and kitchen products, and the company's rapid growth is illustrated by a new lease arranged for the company by Cushman & Wakefield, Inc. Lynx has signed a 123,000-square-foot, full-building lease at 7300 Flores Street in Downey, announced John McMillan, executive director in Cushman & Wakefield's Torrance, Calif. office. McMillan teamed with Jeff Sanita and Timothy Wallace to represent Lynx in the transaction. Landlord FDC Partners Rancho L.P., a long-time, well-known Southern California developer, was represented by Eric Knirk of Fremont Associates. With the signing, Lynx will consolidate, relocate and expand from two existing locations totaling 78,000 square feet in Commerce, Calif. The Downey location will house all of the growing company's operations. "This is a great story - a U.S. manufacturer that makes all of its products here is expanding," said McMillan. "The site search was extensive and ultimately, Lynx decided on this location for a number of reasons. "First, this building includes 15,000 square feet of built-out corporate office space that clearly meets the company's requirements and image," said McMillan. "It also has substantial parking for the company's workforce, which is anticipated to grow to 250 employees once the relocation is completed. It is also a significant upgrade from their Class C manufacturing facility to Class A space." Constructed in 1999, 7300 Flores Street is situated near the intersections of I-710 (Long Beach Freeway), I-105 and the Imperial Highway in Los Angeles County. It features 30-foot clearance and an ESFR sprinkler system. The signing comes as the region's industrial market "is getting better," said McMillan. "Market fundamentals are improving and quality space, especially Class A space, is becoming more difficult to find." Cushman & Wakefield's industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2012, in the U.S. alone, this group completed more than 7,000 industrial real estate transactions - totaling 261 million square feet - with an aggregate value in excess of $8.43 billion.
07/11/2013 - 10:45