Lee & Associates Transacts 85,000 Square Foot Industrial Lease in Camarillo, CA
CAMARILLO, CA – August 22, 2011 – (RealEstateRama) — Lee & Associates-LA North/Ventura Principals Grant Harris, Grant Fulkerson and Robert Shafer transacted an 85,000 square foot industrial lease to Perfect Promotional Products in Mission Oaks Business Park in Camarillo, CA after fielding several proposals on the building.
Perfect Promotional Products leased the space at 5217 Camino Ruiz for a seven-year term. Total consideration is in excess of $3.76 million.
“We began negotiations on this space in February, and by the time we were pretty far down the road, we received several new offers,” said Harris, who, with Fulkerson and Shafer, represented the landlord, PEGH Investments LLC. “It’s indicative of what has happened just in the last 60 days. We now have multiple clients looking for space in the 75,000-125,000 square foot range.”
Perfect Promotional Products is a printing operation that customizes coffee mugs, water bottles, mouse pads, pens, totes and other vinyl and cloth products. Perfect sells its products through 14,500 wholesale distributors nationwide. Perfect’s parent company, Magnet Group, is the 14th largest supplier of promotional products in the U.S. with sales in excess of $80 million in 2010.
The company is expanding and will consolidate two locations in Oxnard into the new facility. Perfect Promotional Products was represented by Doug Wax, President of Industrial Park Associates.
The building, which totals 125,000 square feet, was constructed as a single tenant facility approximately 10 years ago.
About Lee & Associates – LA North/Ventura, Inc.
Celebrating more than 30 years of leadership in the commercial real estate industry, Lee & Associates®, is the largest broker-owned commercial real estate provider in the nation with 43 offices in California, Arizona, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, South Carolina, Texas and Wisconsin. Lee & Associates-LA North/Ventura, Inc., a member of the Lee & Associates group of companies, provides industrial, office, retail and multifamily/investment brokerage services across the San Fernando Valley, Conejo Valley, Antelope Valley and throughout Ventura County. Lee & Associates’ clients enjoy a comprehensive range of commercial real estate services including: sales and leasing; real estate investment consulting, property acquisition, disposition and 1031 exchange transactions; tenant representation and relocation, land assemblage, site selection, mixed-use and urban in-fill, property and portfolio evaluation and market research. Foun ded in Sherman Oaks in 1994, Lee & Associates-LA North/Ventura now operates four California offices including Calabasas, Ventura County and Antelope Valley. For more information, contact us in the San Fernando Valley at 818.986.9800; in Ventura County at 805.626.1200; or in Antelope Valley at 661.341.3300. Or visit us online at www.lee-associates.com.
