Industrial Tenant Trades Up to Full-Building 282K-SF Occupancy
The Klabin Company/CORFAC International finalized a long term lease renewal and expansion at 14001-14003 Orange Ave in Paramount. The tenant is A.M. Castle & Co., a leading provider of metals, services and supply chain solutions, which will expand its operations from a portion of the building to the entire 282,000-square-foot property.
The Klabin Company’s Team Noack—comprised of Warren, Kimberly and Travis Noack—along with Frank Schulz and Tyler Rollema, represented the landlord, Ed Drees, in the 84-month lease transaction valued at more than $46 million. Team Noack represented Drees in the 2008 acquisition of 14001-14003 Orange Ave. A.M Castle & Co. was represented by Fisher and Co. Real Estate Services.
“A.M. Castle had an immediate need for more space and was interested in expanding into the entire square footage offered in this well-located property,” said Warren Noack. “They’ve been an excellent tenant for our client for many years, so when the opportunity to renew them and provide them with the ability to expand into the balance of the building came about, it was a win-win.”
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