Nishimoto Trading, which is involved with prepackaged Japanese food products such as sushi, leases half of Sage Enterprises' space at that site, Bell says, adding that Sage Enterprises, a natural foods company out of Illinois, is not renewing its lease.
So in a lease estimated to be worth at least $576,000, Nishimoto Trading will sign a direct lease with the park for its current space, and also the neighboring 18,000 sf, which Tropicana Products currently occupies. Tropicana, which also is expanding, is staying within the park but moving down the street.
"As soon as [the Tropicana] space is done, we'll go into the former Tropicana space and renovate that" for Nishimoto Trading, says Bell. Tropicana is planning to move into its new, 25,238-sf space by June 1.
"One of the benefits of the Miramar Park of Commerce is the ability to accommodate our existing tenants' changing real estate needs," Andy Ansin, vice president of Sunbeam Development, says in a statement. "It is Sunbeam's goal to keep every tenant in the park, whether they are expanding or contracting. Even in these slower economic times, Sunbeam continues to build more product in anticipation of companies' ever-changing real estate needs.
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.
