1201 Miller Street, Anaheim
February 9, 2017
Address: 1201 Miller Street, Anaheim
Description: 45,299 sq. ft. multi-tenant industrial building
Seller: Man-Grove Industries, Inc.
Buyer: TIAA-CREF
Assignment: Negotiate a lease renewal on behalf of the Lessor to maintain full occupancy of a class A multi-tenant distribution facility.
Result: The Team successfully extended the lease of an existing tenant on behalf of the Lessor for an additional five years at a lease rate that was 15% higher than competing properties. The Team was able to negotiate favorable terms for the Lessor by leveraging their knowledge of the limited availability of comparable properties and the improving lease rate trends in the marketplace.
Total Value of the Transaction: $1,967,472
