LOS ANGELES-Sugar Foods, best known for making Sweet n' Low, has restructured its current lease with Invesco for the 168,000-square-foot, class-A manufacturing facility located at 9545 San Fernando Rd. in Sun Valley, CA. Sugar Foods, currently in the fifth year of the seven year contract, stands to save seven figures from the restructuring during the remaining term.

The company solicited the help of Studley, a global tenant advisory firm, senior managing director Bart Pucci to negotiate the lease restructuring. “This transaction provided an opportunity for Sugar Foods to remain in a property and location that worked well for its business and employees while saving significant costs in the near- and long-term,” says Pucci. Colliers International's John DeGrinis represented Invesco in the transaction.

The company additionally renewed the lease for five years at a “competitive rate,” according to Studley.

This lease restructuring and renewal comes after a recent CBRE report that Southern California is leading the national industrial market, with 18 million square feet of industrial space currently under construction. Los Angeles alone reports 3.2 square feet of industrial construction and a low vacancy rate at 2.4%. Other manufacturing companies recently have also reported lease expansions, like LA Specialty Produce, who recently expanded its Santa Fe Springs lease by 82,000 square feet.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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