Seagate deal shows what it takes to get tenants in a tough market
Ventura County’s industrial vacancy rate spiked to a 10-year high during the third quarter despite its highest leasing activity in more than a year. Now, one Oxnard landlord has shown that even in a difficult market, clever negotiating can snag a large, quality tenant.
Rexford Industrial recently signed warehouse distributor Worldwide Plastics to 28,815 square feet in its Seagate Business Park at 2260 Camino del Sol in Oxnard, bringing the property to full occupancy.
Worldwide Plastics signed a 38-month lease on the location and is relocating from another site in Oxnard, where it occupied two separate buildings. The chance to relocate to a larger space and run all of its operations from under one roof was a definite draw, Grant Harris, a principle with Lee & Associates L.A. North/Ventura, told the Business Times.