San Diego-based Westcore Properties signed a lease with Skechers USA, Inc. to take the entire 366,700-square-foot industrial building at 22705 Newhope St. in Moreno Valley, CA. The three-year lease is valued at $5.57 million.
The action sports footwear manufacturer reached capacity at its nearby warehouse property, and chose to expand to the Newhope St. property due to the building’s size, proximity, immediate availability and Moreno Valley address.
Westcore’s Hack Adams says, “The City of Moreno Valley is extremely helpful. They assisted us in getting Skechers immediate access to the building. We believe the city’s proactive and business friendly nature, as well as its concierge approach to doing business, is one of the main reasons why Skechers wanted to stay within the City of Moreno Valley.”
CBRE’s Darla Longo and Joey Sugar represented the tenant. CBRE’s Gerry Harvey and Kidder Mathews‘ Dave Burback represented the landlord.
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