THE KLABIN COMPANY NEGOTIATES MULTIYEAR LEASE RENEWAL FOR VIRCO

Virco, a leading manufacturer and supplier of classroom furniture and equipment, signs multi-year lease renewal for 559,00 square-foot facility in prime South Bay submarket 

(December 11, 2024 – TORRANCE, CALIF.) –The Klabin Company/CORFAC International today announced it negotiated a multiyear lease renewal Virco Manufacturing (NASDAQ: VIRC) at the 559,000-square-foot facility owned by Prologis, a leader in logistics real estate.

Located at 2027 Harpers Way in Torrance, Calif., this is the first lease renewal for The Klabin Company that involves the installation of solar panels for a client’s energy consumption. Virco is the leading manufacturer and supplier of furniture and equipment for K-12 schools and is based in California. It manufactures products to meet the highest industry green standards.

Solar panels are planned to be installed next year and Virco’s power will be provided at competitive rates and its energy efficiency will be maximized.

The Klabin Company’s Frank Schulz III, SIOR, represented Prologis in the 65-month lease transaction. Virco was represented by David Prior, SIOR, and Todd Taugner, SIOR, of The Klabin Company. Virco will maintain its L.A.-area headquarters at the facility set on more than 23.5 acres near the intersection of Van Ness Avenue and Del Amo Boulevard in the heart of the South Bay industrial market.

The concrete tilt-up building at 2027 Harpers Way features 50,000 square feet of office space, 750 parking spaces, 36 dock-high positions, three ground-level doors and up to 30’ clear height. The modern, state-of-the-art manufacturing facility ideally facilitates the quick and efficient shipment of Virco products.

“Due to Prologis’ incredible commitment to its customers, we were able to structure this lease for Virco to keep them in this location for years to come without any disruption to its operations,” said Prior, Senior Managing Director for The Klabin Company. “The ability to install solar panels as part of the lease renewal also played a key role.”

About The Klabin Company/CORFAC International

Now in its seventh decade of operation, The Klabin Company/CORFAC International is ranked among the top commercial real estate companies based in Los Angeles. Built on the principles of an open and enduring culture, the company has maintained its independence as a privately-owned business since 1961. The Klabin Company emphasizes how the sharing of information, experience and relationships among all colleagues works to everyone’s advantage. The firm is dedicated to the needs of its clients, and through this commitment, it has remained successful for years. The Klabin Company is affiliated with CORFAC International. For more information go to www.Klabin.com. 

About CORFAC International

CORFAC International is a global network comprising private held entrepreneurial commercial real estate 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 75 offices in the U.S., Canada and international markets, including Australia, France, Germany, Ireland, Italy, Japan, Malaysia, Mexico, Netherlands, Romania, Russia, Singapore, South Korea, Switzerland, Thailand and United Kingdom. CORFAC offices close an average of 10,000 lease and sales transactions valued in excess of $9.0 billion annually, totaling 500 million square feet closed and 65 million square feet managed worldwide. Contact Jonathan Salk, CORFAC Executive Director, at (224) 257-4400 or jonathan@corfac.com or visit www.corfac.com.

The Klabin Company represents Virco Manufacturing in multiyear lease renewal at 559,000 SF facility owned by Prologis.