SAN DIEGO – Avison Young, the world’s fastest-growing commercial real estate services firm, announced that it has negotiated a new, 88-month, 21,365-square-foot flex-industrial lease on behalf of Freedom Solar in Temecula.
Freedom Solar, which will use the space as its headquarters, will be relocating and expanding to its new space in March 2018. Its current location is in Murrieta and totals approximately 8,000 square feet.
Avison Young principal Stan Nowak represented the tenant, while Avison Young principal Corey Martin represented the landlord, Johnson Asset Management. Nowak and Martin are both based in the company’s San Diego office.
“This new headquarters for Freedom Solar was a perfect fit for its expansion, employees and business strategy,” Nowak said. “The building offered the only true flex/industrial option for the firm’s size requirement in the local area. The property also features raw space that will enable the company to embark on an extensive tenant-improvement program.”
Built in 1989 and located at 43445 Business Park Drive, the two-story building totals 32,638 square feet and, with this lease, is now fully occupied. The property recently completed a major capital- improvement program, including a complete exterior refresh.
“This property had a strong amount of tenant interest, as it is proximate to amenities, Old Town Temecula and offers easy access to Interstate 15,” Martin said. “Even though overall vacancy in this market is low, larger blocks of contiguous space for this asset type are difficult to find–especially in shell condition offering a build-to-suit opportunity.”
Located in Rancho California Business Park, two blocks west of I-15 via Rancho California Road, the property is across the street from Ballast Point Brewery and Restaurant and is near numerous other dining and retail shops, professional services and the downtown business district. Temecula is home to several large employers, such as technology-based International Rectifier; biotech firms EMD Millipore or Merck, Abbott Vascular and Medline Industries; distribution company Scotts and manufacturers Milgard Windows and Bomatic.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,600 real estate professionals in 82 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.