March 16, 2016 – CBRE Group, Inc. completed a lease for Image Options, a provider of retail, exhibit & events visual marketing services for clients such as IKEA, Dior and Oakley, for more than 100,000 square feet in Foothill Ranch. This deal marks one of the year's largest industrial transaction in the South Orange County region.
Owned by DCT Industrial (NYSE: DCT), the Class-A industrial property also features 20,000 square feet of office space, a 20,000 square foot HVAC production area and 7 loading docks.
CBRE’s Brian Cole and Gregg Haly represented the tenant on their 88 month lease at 80 Icon, Foothill Ranch.
“There are very few leases in this size range within the South Orange County region,” said Cole. “Image Options’ expansion is symbolic of their continued growing success and the demand for great industrial product.”
Demand for high-end industrial space in the Greater Los Angeles and Orange County region has fueled increases in rental and sales rates for commercial space, and has resulted in historically low vacancy rates, and diminishing concession packages, as the market remains constricted and very competitive, according to the latest CBRE research.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
