[URIS id=5171]

Move promises to bring new jobs as commercial vacancy rate plummets

Temecula, CA, September 2, 2015– A 262,435 square foot industrial manufacturing and distribution building recently sold to an architectural glass fabrication company planning to expand its operations. Glasswerks LA, Inc., leaders among architectural glass fabrication, will occupy 40% of the building.  They anticipate 50-100 jobs will be created in this artesian expansion, diversifying and adding to the growing economy of Temecula. The remaining 60% of the building is leased by Medline Industries, Inc., the nation’s largest privately held manufacturer and distributor of healthcare products.

Stan Nowak of Coldwell Banker Commercial Sudweeks Group represented the buyer in the transaction. Nowak, highlighting the profound regional impact of the sale, notes:

This is the largest owner-user building sale in the Temecula Valley, with the exception of the Professional Hospital Supply Build-to-Suit, in the last 10 years. Prior to the sale, the industrial vacancy rate was 4.4 %. After the occupancy of Glasswerks, the industrial vacancy rate will plunge below 2%, the lowest since Coldwell Banker Commercial began tracking vacancy rates in the region 20+ years ago.

Coldwell Banker Commercial Sudweeks Group is a full service commercial real estate and asset management firm with office locations in San Diego, Temecula and Redlands.

If you would like more information about this topic, please contact Stan Nowak.