VIRCO, LEADING FURNITURE MAKER FOR K-12, EXTENDS LEASE FOR 559,000 SQUARE FOOT TORRANCE HEADQUARTERS


January 25th, 2018

TORRANCE, CA – In a move assuring that one of the few remaining furniture manufacturing facilities in California will stay in the state, Virco Manufacturing, America’s leading maker and supplier of furniture and equipment for K-12 educational facilities, has signed a five-year lease extension for a 559,000 square foot industrial building in Torrance, CA, announces The Klabin Company/CORFAC International. Virco first began leasing the property in 2005.

Klabin Co. officials report that the Virco lease renewal, for a facility located at 2027 Harper Way, begins in 2020 and runs through April, 2025. David Prior, SIOR, of the Klabin Co., and Todd Taugner, SIOR, represented Virco, while Frank Schulz, SIOR, represented Prologis, the property owner. Lease consideration was not disclosed.

“To Virco’s credit, they were bound and determined to keep manufacturing in California. The early negotiation of the lease renewal was prudent because of the size of the facilities and the extensive manufacturing equipment involved,” Prior said. Approximately 400 people are employed at the site, he added.

Established in 1950 as a furniture supplier for Los Angeles area schools, Virco maintains a nationwide direct sales team and supports a growing dealer network. The company’s primary customer base is education, including preschool – 12th grade, junior and community colleges, four-year colleges and universities, trade, technical and vocational schools.

Virco’s Torrance headquarters and distribution center is a concrete tilt-up structure featuring 50,000 square feet of office space, 28-feet minimum clear height, 35 dock high loading spots, and on-site parking for 500 vehicles. The facility is strategically located near the 405 Freeway.

 

About The Klabin Company/CORFAC International

Now in its sixth decade, The Klabin Company/CORFAC International is ranked among the top commercial real estate companies based in Los Angeles. The firm is affiliated with CORFAC International. For more information go to www.klabin.com.

 

About CORFAC International

CORFAC International is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail brokerage, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 47 firms in the US., five in Canada and 27 in international markets, including Australia, Colombia, France, Germany, Ireland, Israel, Italy, Mexico, Romania, Russia, South Africa, South Korea, Switzerland and the United Kingdom. CORFAC offices completed more than 11,000 lease and sales transactions totaling 500 million square feet of space valued in excess of $8.5 billion in 2016. For more information on the CORFAC network, call the Chicago headquarters at 224-257-4400 or visit www.corfac.com.

 

About Virco

Virco is the industry-leading manufacturer of furniture and equipment for K-12 schools. Since 1950, Virco has been proud to design, manufacture and assemble our products in the U.S., at two facilities in Torrance, CA and Conway, Arkansas. Collections include seating for healthy movement, technology-ready tables, and a range of collaborative tables and desks for flexible classrooms.  For large-scale FF&E purchases, Virco’s complimentary, hassle-free PlanSCAPE service delivers on-time, on-budget solutions.