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8/24/15
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Martin Properties Inc acquired a 111.7k sf industrial property in Thousand Oaks and then turned around and leased the facility to Easton Baseball/Softball, a Performance Sports Group Ltd. Martin bought the building, located at 3500 Willow Lane, south of the 101 Fwy off the Hampshire Rd exit, from PEGH Investments LLC in a $10.4 mil ($93/sf) deal.
Mike Tingus and Grant Fulkerson of Lee & Associates-LA North/Ventura represented both the buyer and the seller in the purchase, and also repped Martin in the lease. Bart Reinhard of JLL represented Easton in the lease transaction. Easton, a leading manufacturer of baseball and softball equipment and apparel, will be relocating and expanding by 40 percent from its current facility in Van Nuys.
Originally constructed for Teradyne, a supplier of automation solutions for test and industrial applications, and built out for its sophisticated needs, 3500 Willow Lane proved an ideal solution to Easton Baseball/Softball’s state-of-the-art requirements. Easton, which was acquired by Performance Sports Group in 2014, will build out an R&D lab to include state-of-the-art research, fabrication and testing equipment, showrooms, a fitness center and a 15k sf EASTON Experience Center, an indoor testing and training facility that will host top athletes and teams for product fittings and trial.
The completed 90k sf facility will accommodate more than 100 employees including the executive management team, sales, marketing and R&D departments. The company is expected to take occupancy in the first quarter of 2016.
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