“Full-Building 282K-SF Occupancy: Industrial Tenant Upgrades to New Space”

"Full-Building 282K-SF Occupancy: Industrial Tenant Upgrades to New Space"

The property at 14001-14003 Orange Ave in Paramount has recently finalized a long-term lease renewal and expansion. The tenant, A.M. Castle & Co., a leading provider of metals, services, and supply chain solutions, will now occupy the entire 282,000-square-foot building.

Represented by The Klabin Company’s Team Noack (Warren Noack, Kimberly Noack Travis) along with Frank Schulz and Tyler Rollema), landlord Ed Drees completed an 84-month lease transaction valued at over $46 million. In addition to this deal, Team Noack also represented Drees in their acquisition of the property back in 2008. Fisher and Co Real Estate Services acted as representatives for A.M Castle & Co.

According to Warren Noack: “A.M Castle had an immediate need for more space and was interested in expanding into the entire square footage offered by this well-located property.” He further added that they have been excellent tenants for their client for many years which made it a win-win situation when they were given the opportunity to renew them while also providing them with additional space.

This recent development showcases how industrial tenants are trading up to full-building occupancy like never before.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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