Virco Manufacturing Renews Lease for Torrance Headquarters
Deal Extends Lease by Nearly Five and a Half Years
Virco Manufacturing, a leading maker of school furniture and equipment, has renewed its lease for a 559,000-square-foot headquarters and industrial building in Torrance. The one-story building, located at 2027 Harpers Way, is owned by Prologis, a San Francisco-based landlord.
Lease Terms
The renewed lease extends Virco’s lease by nearly five and a half years. Financial terms of the deal were not disclosed. Virco’s portion of the 1 million-square-foot light industrial building includes 50,000 square feet of offices, 36 dock-high positions, three ground-level doors, and up to 30-foot clear height. The building also features 750 parking spots.
Energy Efficiency Upgrade
As part of the lease renewal, Prologis has announced plans to install solar panels on the facility next year. This upgrade will maximize Virco’s energy efficiency and lower its utility bills. The solar system was negotiated by brokers David Prior and Todd Taugner of the Klabin Company, which represented Virco in the leasing deal. Frank Schulz represented Prologis.
Brokers’ Statement
"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 David Prior. "The ability to install solar panels as part of the lease renewal also played a key role."
Conclusion
Virco Manufacturing’s lease renewal in Torrance demonstrates the company’s commitment to its operations in the area. The deal also highlights Prologis’ dedication to providing its customers with energy-efficient and sustainable solutions.
FAQs
Q: What is the size of Virco’s headquarters and industrial building in Torrance?
A: The building is 559,000 square feet.
Q: How long does the lease extension last?
A: The lease extension is nearly five and a half years.
Q: What are the features of Virco’s portion of the building?
A: The building includes 50,000 square feet of offices, 36 dock-high positions, three ground-level doors, and up to 30-foot clear height, plus 750 parking spots.
Q: What is the purpose of the solar panel installation?
A: The solar panel installation will maximize Virco’s energy efficiency and lower its utility bills.
