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Release Date: Wednesday, February 05, 2014
Media Contact: Evelyn Weiss Francisco (201) 796-7788
Global Manufacturer will expand its Southern CA Storage Capacity
Commercial real estate services firm Cushman & Wakefield has completed a full-building, 53,000-square-foot industrial lease with Flowserve US, Inc. at 2705 Leonis Blvd. in Vernon. Owner, the Clark Family, was represented by John McMillan, Jeff Sanita and Timothy Wallace of Cushman & Wakefield’s L.A. South-Torrance office in the five-year transaction. Flowserve was represented by Paul Sablock of Jones Lang LaSalle.
Situated just five miles south of downtown Los Angeles, 2705 Leonis Blvd. was at one time occupied by the Clark Family’s O.E. Clark Paper Box Co., and more recently by another full-building tenant. The signing marks an expansion by Flowserve, an international provider of pumps, valves, seals, automation and services for the power, oil, gas, chemical and other industries.
“Flowserve required additional storage to complement its primary facility in Vernon, and this signing marks an expansion of their operation,” said McMillan. “It was the perfect solution to the company’s requirement.
“The region’s industrial market continues to tighten up, as indicated by the fact that when this 60-year-old building became available, it wasn’t on the market for very long,” said McMillan. “It has been very well maintained by the Clark Family and drew considerable interest.”
Cushman & Wakefield’s industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2012, in the U.S. alone, this group completed more than 7,000 industrial real estate transactions – totaling 261 million square feet – with an aggregate value in excess of $8.43 billion.