LEE & ASSOCIATES – NEWPORT BEACH COMPLETES AN 8-YEAR INDUSTRIAL LEASE FOR 41,400 SF IN HUNTINGTON BEACH

Upon completion, 14382 Astronautics Lane in Huntington Beach was leased to Newlight Technologies by Burke Real Estate Group. This 41,400 square foot Corporate Headquarters/Industrial Building was leased for eight years. In their new facility, Newlight Technologies will be converting greenhouse gas into thermoplastics. The building has 7,111 square feet of office/research and development related to their use. The starting lease rate is $.91 per square foot NNN. The transaction was handled by Bob Goodmanson and Brad Schneider of Lee & Associates-Newport Beach.