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11/12/12
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In a sizable industrial lease comp from the northern San Fernando Valley, PureTek Corporation inked a deal for a 77k sf facility in the city of San Fernando. The property, located at 1050 Arroyo St, just west of the confluence of the 118 and 210 freeways, is owned by Rexford Industrial’s RIV V Fund in 2011.
PureTek was repped by Mark Berman of LesMark Strategic Real Estate Services. David Young, Chad Gahr, Todd Lorber and Chris Jackson of NAI Capital’s Encino office represented Rexford in the transaction. NAI Capital was retained in 2012 to market the property both for lease and for sale.
“For decades, the building had been utilized as a plastic injection molding facility,” said Young. “Following the purchase of the property by Rexford Industrial, we advised them on the scope of capital improvements that would make the building suitable for today’s end users. The property underwent an extensive rehabilitation and renovation which included the addition of five new dock-high loading positions, a new truck court, a complete remodel and upgrading of 5.6k sf of office space, new T-5 lighting, and the addition of skylights throughout the building.”
The new tenant, PureTek, is a manufacturer of pharmaceuticals, over-the-counter remedies, supplements and personal care products. Headquartered in San Fernando, this building will serve as a secondary manufacturing location for the company.
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