Labcon has signed a long-term lease to occupy approximately 95,000-sf of space at 3700 Lakeville Hwy, a building owned by Novato's Fireman's Fund Insurance Co.
Labcon will relocate from its 78,500-sf manufacturing plant at 700 Du Bois St in Marin this summer, according to a Labcon representative. The private company is relocating to accommodate existing and future growth.
Orion Partners represented both the tenant and landlord in this deal. In Petaluma, rents for this type of space range between $1.85 and $2.25 persf full service.
According to Petaluma city officials, in response to the slowing economy, demand for high-tech and industrial space in Petaluma is rapidly increasing, due to the city's relatively low rental rates and high standard of living.
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