The 10-year pact will provide Brooks Automation with 65,804 sf inside the Cascades Business Park. Greg Geraci and David Harding of CB Richard Ellis represented Brooks Automation in the transaction. Developer Oltmans Construction Co. was represented by Geraci, plus three other CB Richard Ellis brokers.
Though industrial leasing activity in Sylmar and the rest of the San Fernando Valley has remained fairly strong throughout the year, a number of new projects in the area is pushing vacancy rates higher. A report released earlier this month by CB Richard Ellis says the market's industrial vacancy factor has climbed to 6.9% today from 5.2% a year ago.
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