The building stands at 42301 Zevo Drive. It's inside Kearny Real Estate Co.'s 385-acre Westside Business Center.
Terms of the three-year deal will provide Advanced Cardiovascular Systems Inc. with 66,280 sf of distribution and assembly space. The tenant is a subsidiary of Guidant, a New York-based medical-services company whose stock is traded on the NYSE.
The building was previously occupied by the spreader business unit of Scotts Co., the world's largest supplier of consumer products for lawn and garden care. Scotts vacated the building last month to move into an adjacent, 412,580-sf build-to-suit that also was developed by LA-based Kearny.
"Temecula's continued residential growth and increased labor base makesthis market one of the most dynamic and rapidly growing industrialcenters in Southern California," says Kearny VP John Bragg.
Bragg says that Marty Smith and Allen Nunez of Coldwell Banker Commercial represented Kearny Real Estate Co. in the transaction. Sam Foster of Jones Lang La Salle represented Guidant.
Kearny Real Estate Co. is a partnership with the Morgan StanleyReal Estate Funds. The company focuses on industrial, office andmixed-use projects ranging in size from $15 million to $100 million, aswell as acquiring land and adding value through entitlement anddevelopment.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
