BLT Enterprises Inks 3 SoCal Leases
- Jan 26, 2018
BLT Enterprises has leased three of its industrial assets in Southern California, totaling 94,960 square feet of building space and 11,311 square feet of land. Two of the buildings are located in Irvine, Calif., and one in Santa Monica, Calif. BLT’s transactions come following the firm’s closing of a number of other Southern California industrial leases last year.
“We create environments for our tenants that are uniquely suited to their needs and adapt with them so that they can lease from us long term,” said Bernard Huberman, founder & president of BLT, in a prepared statement. “We are able to find them new locations within our portfolio of properties, as well as perform our own entitlements and construction process if a tenant requires additional space over time.”
Three locations, three leases
The first building, fully leased by NN Inc., is a 77,313-square-foot facility located at 9700 Toledo Way in Irvine. The 10-year lease’s value is upwards of $8 million. NN Inc., a manufacturer of precision metal and plastic components, was represented by Kevin Thomas of Lee & Associates, with CBRE’s Gregg and Tyler Haly leading negotiations for BLT.
The second building in Irvine, at 81 Shield, contains industrial and office space totaling 16,000 square feet. The entire property, sitting on a 3-acre parcel one mile from Interstate 5, was leased to United Rentals Realty for seven years. The lease is valued at approximately $3.6 million. Chris Armstrong from Fischer & Co., along with Colliers’ Scott Sanders, worked on behalf of United in the transaction, with Clyde Stauff of Colliers representing the landlord.
Located at 2307 Lincoln Blvd., in Santa Monica, Enterprise Rent-a-Car signed a 10-year lease worth more than $2 million at the third property for 1,647 square feet of retail and industrial space, in addition to 11,311 square feet of land, which will be used for rental car storage. The firm will operate a rental car service in the building, situated near Interstate 10 and about one mile from the city’s downtown area. Carol Taubman from Westgate Industrial Properties spearheaded negotiations for Enterprise in the transaction, with David and James Wilson of Lee & Associates working on behalf of BLT.
Images courtesy of BLT Enterprises