Sares Regis Group Nabs Major Manufacturing Tenant in SoCal
Cambro Manufacturing signed a 433,865-square-foot lease at a development set for late 2022
Southern California’s industrial market is so tight that it’s pulling major leases for properties over a year before they’re even completed.
Cambro Manufacturing, which creates food transport and storage devices, signed a 433,865-square-foot lease at the Huntington Gateway Business Park development in Huntington Beach, Calif. Sares Regis Group is set to deliver the 56-acre industrial project in the third quarter of 2022, according to Newmark, which brokered the deal which was in excess of $65 million.
The project is located at 14900 Bolsa Chica Street.
Cambro has operated in the city of Huntington Beach for 70 years, and currently has two manufacturing buildings in Huntington Beach. The company is consolidating its warehouse operations from the City of Industry to Huntington Gateway.
E-commerce sales growth, government stimulus to online consumers, and global supply chain disruptions are all favoring demand for local warehouse space. Orange County’s vacancy tightened to 2.3 percent after quarterly net absorption gains of 784,376 square feet. The vacancy in Huntington Beach is under 1 percent.
Newmark’s Wes Hunnicutt and Matt Moore represented the tenant, while Jeff Read, Scott Read and Greg Osborne represented Sares Regis.
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