VOIT DIRECTS FIVE-YEAR LEASE RENEWAL FOR OC-BASED MACHINERY COMPANY IN PLACENTIA
Orange County, CA – May 31, 2012 – (RealEstateRama) — Mitch Zehner and Seth Davenport of Voit Real Estate Services’ Anaheim office have directed the five-year lease renewal of a 20,000 square-foot industrial building for a total consideration of $561,300 on behalf of the lessor. Located at 527 Fee Ana Street in Placentia, Calif., this warehouse property will continue to be fully occupied by CMI Precision Machining, a company that specializes in cnc machinery and related products, according to Mitch Zehner, Executive Vice President in Voit’s Anaheim office.
Zehner worked with Seth Davenport, a Senior Vice President with Voit, to represent Terola Enterprises as the lessor. The lessee, CMI Precision Machine, was represented by Greg Osborne of Newmark Grubb Knight Frank.
“We’re seeing Orange County industrial tenants sign increasingly longer leases as the supply of mid-sized warehouse space continues to diminish,” said Zehner. “Many tenants in this market are now ready to secure existing and larger facilities which is a good indication that the market is continuing to stabilize.”
About Voit Real Estate Services
Voit Real Estate Services is now a 10 office commercial real estate firm that, through its brokerage and asset services professionals working together, provides strategic property solutions tailored to clients’ needs. Combining 40 years of expertise in brokerage, investment advisory, financial analysis, market research, asset management, tenant advisory and property management services, Voit provides clients with forward looking strategies that create value for their assets and portfolios.
Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 50 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $36 billion in brokerage transaction volume. Further information is available at www.voitco.com.
Contact:
Jenn Quader/ Judith Brower
Brower, Miller & Cole
(949) 955-7940
Jquader (at) browermillercole (dot) com
