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JLL completes 159,943 SF industrial lease with in Cypress
CYPRESS, CALIF., May 6, 2013 – Jones Lang LaSalle represented Cavotec for a new 159,943-square-foot industrial lease at 5665 Corporate Ave. in Cypress, Calif. Cavotec will occupy the space for its regional headquarters and United States west coast manufacturing and distribution. The Cypress facility provides a consolidation of its current Fullerton and Costa Mesa operations under one roof, with major expansion capability for the next 10 years.
Jones Lang LaSalle Orange County team members Louis Tomaselli and Garrett McClelland represented Cavotec Dabico. The landlord, LBA Realty, was represented by Rick Ellison and Randy Ellison of Cushman & Wakefield.
“After a comprehensive market analysis, Cavotec decided that 5665 Corporate Ave., was the best option because it was in close proximity to its employee base and it provided a superior corporate image,” said McClelland. “With almost all indicators pointing to improving market conditions, Jones Lang LaSalle was able to negotiate win-win terms for both Cavotec and LBA Realty to enjoy a long-term, collaborative relationship."
McClelland’s partner in the transaction, Louis Tomaselli, went on to say that despite the challenges we read about within the state, Southern California still boasts one of the largest manufacturing bases in the United States. Cavotec’s major expansion of manufacturing and assembly within the airport and port engineering products sector confirms the recovery, continued improvement, and proves that businesses are expanding within the region.
“We are confident that Cavotec Dabico needs to be located in Southern California and our confidence in California is proven by our long-term commitment to this new corporate expansion in Cypress,” said Christian Bernadotte, Regional Manager of the Americas, and Chairman of the Board for Cavotec Dabico US Inc., Cavotec USA Inc, and Cavotec Inet US Inc.
Cavotec is a leading system designer and integrator for the global airports, maritime ports, mining, and general industry sectors. The US operations are wholly owned subsidiaries of Cavotec SA, a Swiss company listed on the NASDAQ OMX in Stockholm, traded under the symbol “CCC”. You can find further financial information on the investor relations pages at http://investor.cavotec.com/financials.cfm. Please also find the link to Cavotec SA’s video on its international and U.S. operations, http://www.cavotec.com/video/presentation.mp4.
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About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management. For further information, visit www.jll.com.
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