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October 16, 2021
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ORANGE COUNTY NEWS
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Cambro Manufacturing Leases New Huntington Beach Facility in $65 Mil Deal

9/08/21

Cambro Manufacturing has agreed to lease Building 2 at Huntington Gateway, a new 433.9k sf industrial develelopment in Huntington Beach. The total lease consideration was in excess of $65 mil.

The new Cambro building, expected to be completed in Q3 2022, will be within Phase II of Huntington Gateway, developed by Newport Beach-based Sares Regis Group. Phase II, consisting of 56 total acres, includes four additional buildings ranging in size from 110k sf to 233.7k sf, to be completed in late 2022.

Wes Hunnicutt and Matt Moore with Newmark represented the tenant in the transaction. Jeff Read, Scott Read and Greg Osborne, also with Newmark, are the listing agents on the project and represented Sares Regis in the lease transaction. Cambro, which has operated in the city of Huntington Beach for 70 years, currently has two existing manufacturing buildings in Huntington Beach and is consolidating its warehouse operations from the City of Industry to Huntington Gateway.

“This is a smart move for Cambro. Huntington Gateway is a one-of-a-kind project in Orange County and a perfect fit for Cambro and its growth plans,” said Hunnicutt. “This will ultimately save significant dollars on interfacility transport costs, and the building features will allow for maximum efficiency.”

Modern space in Orange County is highly scarce and desirable, which often leads to bidding wars among prospective tenants. In most cases, contract rents are being determined on a deal-by-day basis, according to Newmark Research’s latest quarterly report. E-commerce sales growth, government stimulus to consumers and global supply chain disruptions are all favoring demand for local space. Orange County’s vacancy tightened to 2.3% after quarterly net absorption gains of 784.4k sf. Huntington Beach has the lowest industrial vacancy rate among West Orange County submarkets at 0.9%.




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