CARSON, Calif. – April 19, 2018 – CCL Tube Inc., a division of CCL Industries of Canada, has extended the lease term for its 101,304-square-foot (sf) manufacturing facility in southern Los Angeles located at 2250 E. 220th St. in the city of Carson. The company has run operations at the building since it was first developed approximately nine years ago, and recently agreed to a second long-term lease. The high quality building, notably the first LEED Certified Silver industrial building in the entire South Bay market when completed in 2008, is owned by Watson Land Company.
Jeff Morgan of Cushman & Wakefield’s El Segundo (South Bay) office represented the tenant in the transaction. He was assisted by colleagues Eric Garfield, MAI, CRE and Tom Solan of the firm’s regional Valuation & Advisory team to determine the new fair market appraisal for the renewal, which resulted in a preferential new lease agreement for CCL Tube.
Mr. Morgan, Executive Director and Certified Supply Chain Specialist, said, “CCL Tube was approaching the final year of its initial 10-year lease, and re-committed to retain its operations at this location for at least another 10 years. They have essentially locked their real estate in place for many years to come in what is a very desirable and high demand market for industrial product.”
He added, “Industrial vacancy in the Carson/Compton/Rancho Dominguez submarket remains tight just 1.7% as of the first quarter of 2018 according to our latest research. The city of Carson and surrounding submarkets remain highly attractive for migrating and expanding companies wanting to be in Greater Los Angeles, and more specifically proximate to the Ports of Los Angeles/Long Beach. In fact, Carson is seeing a lot of new large deals, leading the entire South Bay region in that category in the most recent first quarter.”
CCL Tube Inc., a division of CCL Industries, is the leading manufacturer of plastic tube packaging solutions for the Americas. CCL Tube employs 350 dedicated and talented team members at its Moorestown, New Jersery, Los Angeles, California and Wilkes-Barre, Pennsylvania manufacturing facilities. For more visit http://www.cclind.com/.
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