CoStar Group - November 15, 2006
They need a lot of wine bottles in Sonoma and Napa counties, and one of the biggest suppliers of glass bottles just leased 607,208 square feet at 5195 Fermi Drive in Fairfield, CA. Toledo-based Owens-Brockway Glass Container Inc. signed a 10-year lease commencing next February. Owens-Brockway is an indirect, wholly owned subsidiary of Owens Illinois Inc.
At a market rate of 35 cents per square foot/month, the deal is valued at approximately $25.5 million. Saint-Gobain formerly occupied the space, which comprises the entire facility. The warehouse was built in 1996 and is situated on 28.1 acres. Features include ESFR sprinklers, 56 loading docks, eight grade-level doors, cross-docks and a 30-foot clear-height. Owens-Brockway will use the warehouse to store wine bottles until they are delivered to winery clients in Napa and Sonoma counties.
Tony Kepano, Peter Stewart and Brian Gleason of Trammell Crow Co., which represents Owens-Brockway on a national basis, negotiated the lease on behalf of the tenant. Brooks Pedder and Phil Garrett of Colliers International in Fairfield represented the landlord, Property California LS Corp.
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