Tech Users Hot for Industrial, But It's Hard to Find
Pinnacle Exhibits inked a lease for more than 92k SF at 9 Holland in Irvine, bringing the 181k SF building to full occupancy. The deal is a sign of the strong demand among tech and light industrial firms in the South Orange County market, CT Realty Investors EVP Marc Belluomini tells us. The market's also characterized by a lack of industrial supply, partly because of a scarcity of buildable land. Oregon-based Pinnacle Exhibits designs, builds and manages 3-D brand environments for marketing and advertising efforts.
CT Holland Industrial, an affiliate of CT Realty, acquired the property in 2013, and then modernized its existing office space and converted other space to manufacturing, warehouse and distribution use, Marc says. Configured for two tenants, Bio-Rad Laboratories leases the remainder of the space; the company makes and distributes products for the life science research and clinical diagnostic markets. CBRE's Gregg Haly, Jeff Carr and Dave Desper repped CT Holland Industrial in the lease, while Lee and Associates’ Ryan Harman repped Pinnacle Exhibits.
