345 Cessna Circle, Corona

February 25, 2022

Address: 345 Cessna Circle, Corona, CA

Description: 113,050 Sq. Ft. industrial building

Lessee: Fender Musical Instruments Corporation

Lessor: A Canadian Institutional Investment Fund

Assignment: Negotiated a new ten-year lease on behalf of the ownership with Fender Musical Instruments, the world’s largest guitar manufacturer. Concurrent with the new lease negotiations, the team negotiated a lease termination with PCC Aerostructures, a division of Berkshire Hathaway, which enabled PCC to minimize their outstanding lease obligation and the ownership to transition to a full market lease rate with virtually no downtime or tenant concessions.