Warehousing Company Leases Larger Building
By CHRIS CZIBORR
Santa Ana-based warehousing company Terry Bowman Group of Logistics has more than doubled its space with a move into 250,000 square feet on East Dyer Road.
Terry Bowman Group recently moved to the new facility at 2001 E. Dyer from 100,000 square feet of warehouse space down the street at 515 E. Dyer Road.
“Our lease was up at the end of year, and the landlord had somebody that wanted the building and gave us incentive to move, paying our moving expenses,” said Dave Banasiak, the company’s vice president. “We also needed more space,we’re growing. At our new space we have a lot of square footage to grow into.”
Terry Bowman Group moved to make way for Irvine-based Royalty Carpet Mills Inc., a carpet maker that leased 268,000 square feet in the company’s former building.
Terry Bowman Group stores and distributes products for companies.
The company has benefited from a reluctance of companies to take on warehouses in the past two years, according to Terry Bowman, president and owner.
“People don’t want to tie themselves down in long-term leases or buy bricks and mortar,they’d rather outsource their need for storage,” he said.
Terry Bowman Group works with companies that need to store imports and other products.
The company charges for storage and also offers distribution, fulfillment and other services.
About 2,000 square feet of the new space is for the company’s office. Most of the space is set to be used to store goods. Terry Bowman Group employs 15 to 30 workers.
“That fluctuates on a week-to-week basis,” Banasiak said.
The company reported $1.8 million in revenue last year and expects $2 million this year.
The five and half year lease is valued at $3 million. Terry Bowman Group’s new landlord is New York-based Rockefeller Tele-communications Group, a unit of Rockefeller International Group Inc.
Phil Cohen of CB Richard Ellis Inc. in Newport Beach brokered the deal for Terry Bowman Group.
Most of the company’s customer base is local and includes clients such as the Irvine operation of B. Braun Medical Inc., part of Germany’s B. Braun Melsungen AG, and Irvine-based American Sporting Goods Corp.
