Property Address: 5335 Wheeler Ridge Rd., Valencia CA 91354
Square Footage: 480,000
CBRE’s Craig Peters represented the tenant L’Oreal, the largest subsidiary of L’Oreal Group, the world’s leading beauty company. The company will bring SalonCentric, L’Oreal USA’s professional salon distribution operation to the Tejon Ranch Commerce Center (TRCC). SalonCentric will occupy the remaining 240,000 square feet of space in a 480,000-square foot building TRC developed in partnership with Majestic Realty Co. The Tejon Ranch Commerce Center is Tejon Ranch Co.’s 1,450-acre master planned commercial/industrial development located at the junction of Interstate 5 and Highway 99 in Kern County. It’s entitled for more than 20 million square feet of commercial and industrial space, with about 15 million square feet still available. In addition to Dollar General, the Commerce Center is also home to major distribution centers for IKEA, Famous Footwear and Caterpillar Inc. As one of the top industrial professionals in the Santa Clarita and San Fernando Valley, Peters has consistently performed at the highest level on both a regional and national basis.
Property Address: 17182 Nevada, Victorville CA 92394
Square Footage: 466,255
Deal Value: $50 million
CBRE’s Jay Dick, Dedrik Pharis, Darla Longo and Barbara Perrier facilitated this $50 million deal, representing the landlord and buyer. This CBRE team completed a 466,255-square foot lease with Newell Brands Inc. The landlord was Stirling Capital Investments, LLC. This was the third transaction with this tenant at this building in the past 10 years. Formerly a 584,412-square foot building with excess land, the landlord capitalized on that and expanded the building by 466,255-square feet – creating a 1.05 million square foot cross-dock building.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- CRE Awards 2019: Best Office Lease
- CRE Awards 2019: Best Retail Sale
- CRE Awards 2019: Best Industrial Sale
- Commercial Real Estate Awards 2018: Best Medical Lease
- CRE Awards 2019: Best Medical Sale
- CRE Awards 2019: Best Land Sale
- Commercial Real Estate Awards 2018: Best Industrial Lease
- CRE Awards 2019: Best Medical Lease