Lease Ranks Among Largest in 2009

ORANGE, CA-Mesa Safes and All American Lock Co. has signed a five-year lease for a 49,515-square-foot freestanding industrial building at 337 Freedom that is among the largest in the airport area to lease this year, according to Craig Sullivan Collins Commercial Corp. Sullivan, who represented the tenant, tells GlobeSt.com that the safe company is expanding and relocating from approximately 25,000 square feet in Huntington Beach and will move its headquarters to 337 Freedom, an industrial building that includes 15,000 square feet of office space.

The tenant would have preferred to stay in Huntington Beach if possible, but none of the available buildings there met all of the Mesa Safe requirements, Sullivan notes. The 37 Freedom building, which was built in 1985, was one of the few available that could offer the dock-high loading, the large yard and the amount of office space required, he explains. Mesa, which sells safes and security products, will use the building both as a headquarters and for distribution.

Mesa’s lease at the new headquarters begins on Sept. 1. The five-year, $1.6 million deal includes an option to renew for five years and was negotiated at “a very aggressive rate,” Sullivan says. In addition to the favorable rate, about 50 cents per square foot per month gross, the deal includes other favorable terms. The landlord, a private investor, was represented by Chris Migliori of Daum Commercial.