LOS ANGELES—Geringer Capital is nearing completion of a 126,768-square-foot build-to-suit industrial project for tenant Walker Zanger. The project began construction in February 2014 after the tenant signed a leased of the future property. Despite the high demand for industrial product in the market, Geringer Capital, a private investor, decided to mitigate its risk factor by pre-leasing the property before entering into development. The property will be completed in August of this year.

“The owner of the property is a private investor, so they wanted to be a little bit more conservative,” David Harding, SVP at CBRE, tells GlobeSt.com. “They would rather have a deal in hand before they construct. If they were a large institutional owner, most certainly, they would have gone ahead and built it.” Harding, along with SVP Greg Geraci, first VP Matt Dierckman and VP Billy Walk represented the landlord in the transaction. Transwestern‘s J.D. DeRosa represented the tenant.

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