Australia-based EVO Power USA, a battery energy storage firm, signed a deal for its first U.S. outpost in Rancho Santa Margarita.
The lease is for 15,070 square feet at 30452 Esperanza.
JLL represented EVO Power; the landlord, Fauna 43 LLC, was represented by Lee & Associates.
“After searching locations in several other Western states for our first U.S. location, we chose the Orange County, California area because of the area’s growth in renewable energy as well as the access to premier labor in this specialty,” said Jamie Allen, group CEO of EVO Power.
JLL Vice President Kris Smith noted that while e-commerce growth has slowed in Orange County, there’s been growing demand for the industrial sector from renewable energy companies, “especially as the federal government has been extending subsidies to manufacturers of clean energy technologies in the U.S. under the Inflation Reduction Act.”
Furniture Distribution Co. Plants Flag in Anaheim
A high-end lawn furniture distribution company has inked an industrial lease spanning 106,067 square feet in Orange County, marking its first U.S. location.
Spotter Global last month signed a deal for most of 1204 N. Miller St. in Anaheim, a 151,181-square-foot distribution building that was built in 2015 as part of Panattoni Development’s Anaheim Concourse project at the city’s former Boeing campus.
The company previously distributed its furniture products through Amazon, but growing demand prompted the company to look for its own facility, and landed on Orange County as the best option, brokers said.
Spotter Global’s operations base is reported to be centered in Northern California, but the Anaheim deal is the company’s first physical U.S. footprint.
Voit Real Estate Services’ Jack Faris represented Spotter Global in the transaction; CBRE brokered the deal on behalf of the landlord, BentallGreenOak.
Spotter Global is expected to move into the facility in November. The location will hold about 50 employees. Other tenants of the property, which BentallGreenOak bought in a $188 million portfolio deal in 2016, include Jiaherb Inc. and Nellson Shipping and Receiving.
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The lease is among the three largest industrial deals on record for the city this year, and is the largest non-renewal lease in Anaheim over that time, according to data from real estate market tracker CoStar Group Inc.
