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United Scope, LLC, an online supplier of microscopes and accessories, has relocated to Irvine Business Complex after Newmark Grubb Knight Frank (NGKF) secured a sublease opportunity on the campus of Jamboree Business Center at favorable terms that also accommodates the company’s rapid growth.
NGKF Managing Director Byron Foss, Senior Managing Director Wade Tift and Managing Director Nick Carey represented the tenant in its search and lease transaction.
The company now occupies 50,318 square feet at 14370 Myford Road in Irvine, Calif., a 100,152-square-foot light manufacturing and distribution facility. United Scope subleased the property from La Jolla Group, LLC, a multi-brand apparel licensing company that held a long-term lease for 200,000 square feet of space at the complex. Additionally, the NGKF team obtained a substantial concession package with multiple months of free rent and a tenant improvement allowance for United Scope. The space also came with its existing racking for high-pile storage, additional savings for the tenant.
United Scope previously occupied 25,000 square feet in the Irvine Spectrum office and industrial park. The NGKF team located a tenant, Oceania International, Inc., to sublet United Scope’s space before its relocation.
“To uncover an appropriate option in Irvine Business Complex at such aggressive terms and, at the same time, backfill the client’s existing space was a complex process,” said Mr. Foss of NGKF. “But we were able to deploy all of resources to work on both the front and back ends of this assignment to create a seamless transition for our client.”
Gregg Haley and Chip Wright from CBRE represented La Jolla Group in the sublease transaction.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.