LEADING MANUFACTURER OF MOBILITY PRODUCTS SECURES LEASE FOR CORPORATE HEADQUARTERS AT PRIME TORRANCE BUSINESS PARK


May 4th, 2018

The Klabin Company Negotiates Transaction on Behalf of L&B Realty Advisors, Inc.

(MAY 1, 2018 – TORRANCE, CALIF.) – The Klabin Company/CORFAC International today announced it negotiated a lease on behalf of L&B Realty Advisors, Inc. at the Storm Business Park, located at 1338 W. Storm Parkway in Torrance, Calif.

The Klabin Company’s Senior Vice President Courtney Bell, along with his colleague Matthew Stringfellow, SIOR, represented L&B Realty Advisors in the seven-year lease transaction for 24,212 square feet of space and valued at more than $2 million. The tenant, SHOPRIDER® Mobility Products, a leading manufacturer of scooters and power chairs, was represented by Billy Messori and Danny Williams of Newmark Knight Frank.

Since 1988, SHOPRIDER® scooters and power chairs have been available in the United States. Its products have quickly become one of the top brands in the country by bringing advanced features, innovative designs and affordable pricing to the consumer.

“Shoprider had recently sold their existing building and had to relocate. The Storm Business Park proved to be the right home,” said Stringfellow. “Built in 2008, the concrete tilt-up building features four dock-high and two ground-level loading positions two story office for the Shoprider workforce. Seizing on an ever-improving market, L&B Realty accommodated an early termination request of an existing tenant in favor of Shoprider and captured a 32% rent premium.”

Storm Business Park is a premier, master-planned business park encompassing approximately 500,000 square feet of industrial and corporate office facilities. This 40-acre site includes Class A industrial buildings that can accommodate tenants from 3,000 to 70,000 square feet. Located in Torrance, one and a half miles from the 110 freeway (10 minutes from ports of Los Angeles & Long Beach, and 15 minutes from LAX) Storm Business Park is designed to meet the needs of a wide range of industries, including warehousing, manufacturing, R&D, transportation, logistics and corporate services.

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. With clients around the world, The Klabin Company specializes in industrial, office, investment and development services. It combines cutting-edge research and analysis with years of experience to keep abreast of ever-changing market dynamics to ensure the best possible value for its clients in every facet of its business. 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 U.S., 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.