Unical Aviation Inc

Unical Aviation Leases 467k sf SoCal Facility - NOI Strategies ...

In a major SoCal industrial lease, Unical Aviation Inc signed a deal for a 467.1k sf facility in the City of Industry that will serve as the company’s corporate headquarters and warehouse. The building, located at 680 South Lemon Ave, midway between Valley Blvd and the 60 Fwy, is an expansion from the firm’s existing location in Irwindale. The deal is reported to be worth over $20 mil. Steven Bellitti, Thomas Taylor and Chris Sheehan of Colliers International negotiated the transaction, having represented Unical and the property owners, Cardinal Capital Partners & Benenson Capital Partners, both privately held firms engaged in corporate real estate investments. According to Colliers, this deal marks the largest industrial building that was leased in Los Angeles and Orange Counties in 2009. "Unical Aviation is expanding in a tough economy, which is a testament to the long term viability of the company," said Bellitti. "The Lemon Avenue facility provides them with a high-image, corporate environment combined with a functional, state-of-the art distribution facility. This transaction provides Unical Aviation with a truly ideal real estate solution for its long-term headquarters operation." Sheehan added, "The landlord partnership is a sophisticated real estate investment group that was able to secure one of the few infill big box requirements in 2009. Their building offered existing features that were beneficial to the tenant's requirement, as well as future growth needs, and they were able to work together to deliver a building that will be a fitting corporate headquarters for a company like Unical Aviation.

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