WESTERN STATES TECHNOLOGIES INC. SIGNS $4.2 MILLION IN NEW LEASES
LOS ANGELES, CA – July 6, 2010 – (RealEstateRama) — Western States Technologies Inc. has signed $4.2 million in new leases at two of its Southland properties.
Western States recently signed a new lease with Eurocar Inc. (www.eurocaroc.com) for 52,922 square feet of office and warehouse space at 2920 Redhill Ave. in Costa Mesa, Calif. The five-year lease is valued at $2.2 million. Dave Desper with CB Richard Ellis’s Newport Beach, Calif., office represented Western States in the transaction, with Trent Walker of the Irvine, Calif., office of Voit Real Estate Services representing Eurocar.
Eurocar, one of the West Coast’s largest, independent pre-owned luxury and exotic automotive dealerships, will use its new location for showroom and office space. The company caters to a diverse clientele both nationally and internationally, shipping vehicles all over the world to Canada, Spain, Dubai and China, among other destinations. Eurocar deals with such luxury brands as Rolls-Royce, Bentley, Mercedes-Benz, Maserati, Aston Martin, Ferrari, Lamborghini, Porsche, BMW and Range Rover.
Western States also announced it has signed a six-year, $2 million lease with Leabo Foods Distribution Inc. (www.leabofoods.com) of Rancho Cucamonga, Calif. Leabo Foods has leased 42,000 square feet at Western States’ 92,000-square-foot building at 1975 E. Locust St. in the Vineyard Airport Center in Ontario, Calif. Leabo Foods is a leading frozen food distributor to 28 school districts covering more than 500 school sites in Los Angeles, San Bernardino, Riverside and Orange counties. The company plans to use its new space for office, warehouse, freezer and refrigeration.
Mark Zorn of the Ontario office of Daum Commercial Real Estate Services represented both Western States and Leabo Foods in the lease transaction.
“We are delighted to work with such high-quality companies as Eurocar and Leabo Foods,” said Scott Venturelli, president of Western States Technologies. “They are outstanding leaders in their respective industries and we are proud that they have selected our properties for their showroom and distribution locations.”
Based in Los Angeles, Western States Technologies concentrates on the successful development, acquisition and rehabilitation of industrial and office properties, and currently owns and manages a mixed-use portfolio totaling more than one million square feet in Los Angeles, Orange, Riverside, San Bernardino, Ventura and San Diego counties. Western States specializes in the acquisition of single tenant industrial properties and office buildings priced from $1 million to $10 million.
Contact:
Donna Hahn
Hahn Communications
949/458-3983
donna (at) hahnmarketing (dot) com
