4141 N. Palm St., Fullerton
Address: 4141 N. Palm St., Fullerton, CA
Description: 100,000 Sq. Ft. Industrial Building
Lessor: Link Logistics Real Estate
Lessee: Adam Rite Aerospace, Inc.
Assignment: Negotiate a lease renewal on behalf of Link Logistics Real Estate, a division of Blackstone
Result: The Hefner Vernick Team represented the Lessor, Link Logistics Real Estate, in securing a 75-month lease renewal for the 100,000 sq. ft. manufacturing facility with Adams Rite Aerospace, Inc. The Hefner Vernick Team was able to renew the lease on behalf of Link with a 70% increase to the previous rental rate, generating a premium effective net rate of $1.36 PSF NNN over the extended term. Furthermore, the rental rate increase was effective 14 months in advance of the natural lease expiration, and there were minimal tenant concessions, further bolstering the economies for the ownership.