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Furniture Company Inks 247K-SF Deal in Santa Ana

A furniture distribution company has signed a sizeable industrial lease at the site of a former Sears facility in Santa Ana.

Cloud Mountain LLC inked a 246,622-square-foot deal to occupy more than two-thirds of a new warehouse at 500 W. Warner Ave., a 381,338-square-foot property that previously served as an outlet center and distribution facility for Sears.

Now, that property is fully leased to Cloud Mountain and one other tenant, four years after its sale to Irvine-based real estate investor LBA Realty.

The other tenant is Syco Enterprise Inc., which signed a 134,716-square-foot lease at the property in June.  

Cushman & Wakefield’s Rick Ellison, Randy Ellison and John Griffin represented the landlord in both lease transactions.

Top New Lease

Arcadia’s Cloud Mountain will use the site, about a mile west of the Costa Mesa (55) Freeway, as a distribution facility for furniture that it imports from China. Its outdoor furniture and other products are also sold in large discount stores like Walmart.  

The 247,000-square-foot deal is among the largest new industrial leases inked since the start of the year in Orange County. Of total 2021 industrial leases, the largest reported deal is Cambro Manufacturing’s 434,000-square-foot lease in Huntington Beach.

LBA Buy

Sears Holding Corp. sold the Santa Ana industrial building to LBA in 2017 for $41 million, or $130 per square foot.

LBA bought the site in a portfolio deal totaling $70.9 million that included other buildings in San Diego and Dallas.  

Sears temporarily leased back the Santa Ana property in the short term, and vacated the site before LBA repositioned the property for new tenants.

A nearly 60,000-square-foot industrial building next door to the larger facility at was also owned and occupied by a Sears affiliate; the retailer has since sold and vacated that site at 400 W. Warner. 

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