|
|
2/03/20
|
A 193.5k sf La-Z-Boy manufacturing facility in Redlands has sold for $11.5 mil, or $59/sf. The property, located at 301 Tennessee St, was acquired by ACC BLD LLC, an entity of ESRI. The company is an international supplier of geographic information system software.
La-Z-Boy is moving its operations out of the area and its production to other North American facilities. ESRI is expanding its presence in the Redlands area. They plan to use a portion of the building for a few years while leasing the remaining space, and eventually occupy the entire building.
Mark Lyon with Kidder Mathews represented the buyer in the transaction. According to Lyon, this was a value-add transaction with an aggressive purchase price for this region where manufacturing facilities such as this have been in low demand compared to generic warehouses.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
