FULLERTON, CA—WS Packaging Group has extended its lease of an 82,000-sq.ft. manufacturing facility here through 2027.
The building is at 531 Airpark Drive, where the company has been located since 2005. The firm is one of the largest printing and label converting operations in North America. WS is majority owned by J.W. Childs Associates LP, a private equity firm based in Boston.
As part of the transaction framework, the company bought the building for an undisclosed amount, and then assigned its ownership position to Cohen Asset Management, a private real estate investment firm that specializes in industrial properties nationwide.
Studley’s Industrial Services Group and Corporate Real Estate Advisors represented WS in the transactions. Jeff Cannon with Studley said in a statement that WS had already invested significant dollars in the building’s infrastructure. “The transaction preserved that investment and secured our client’s tenancy in the building at below market rents, while delivering an asset that provides a good return on investment,” he said.