Food Makers Equipment, which reconditions and manufactures bakery equipment, moved into a 40,000-square-foot warehouse at 16019 Adelante St. in Irwindale. While the total value for the five-year lease was undisclosed, it started at 64 cents per square foot per month on a full-service gross basis.
Rick Sheckter of Grubb & Ellis Co., who represented the tenant, noted that rents have "flattened out," with the deal consistent with market rates.
"The pendulum is swinging back to the middle," Sheckter said.
The lease term began Feb. 1 and Food Makers has already upgraded the building, which houses a test kitchen and showroom in addition to a production area.
Ryan Campbell, of Grubb & Ellis, also represented Food Makers.
The Cole Associates represented landlords, Donald Cavalletto and Louis Cavalletto II, brothers who invest in Southern California real estate.
A team of Jones Lang LaSalle Inc. brokers has been tapped to handle leasing for the Atria West office complex in Westwood.
The Class A, 178,719-square-foot office complex at 10585, 10635 and 10669-10685 Santa Monica Blvd. was recently purchased for an undisclosed sum by Alaska Permanent Fund Corp., a fund financed by Alaskan state oil royalties.
The purchase from seller Legacy Partners Inc. was conducted by LaSalle Investment Management Inc., a subsidiary of Jones Lang LaSalle. Broker Lisa St. John will handle leasing along with Peter Best and Brian Niehaus.
The new owner takes over the ground lease of the property, which is owned by the Pardee Family Trust. The lease expires in 2085.
Staff reporter Daniel Miller can be reached at firstname.lastname@example.org or (323) 549-5225, ext. 263.
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