Esri, a geographic software developer, has bought the factory formerly occupied by La-Z-Boy and will use the building to expand its Redlands operations.
Esri, considered one of the Inland Empire’s leading technology-based companies, paid $11.5 million for the building at 301 Tennessee St. The company will use part of the facility and lease the remaining space to another party for several years. It eventually plans to occupy all 193,469 square feet, according to the brokerage Kidder Mathews, which represented the seller.
La-Z-Boy announced last August it was closing the Redlands upholstery factory and moving those operations to other North America locations. The closure was completed in October and eliminated about 350 jobs in the city. The Michigan-based furniture company had been making recliners, sofas and other items in Redlands for 53 years.
Esri did not respond to requests for comment on its plans for the new space, which is a short distance from the company’s main campus.
The software developer has about 1,900 employees in Redlands, according to the city’s Chamber of Commerce. Worldwide, it has nearly 4,000 employees and operates in 49 countries.
The company, which also has a global customer base for geographic information system software, is in the process of building a new office building in the same neighborhood. The 110,000-square-foot building on West Park Avenue will be used by support, customer service and education staff. That building is expected ready for use in the second quarter of 2021.
Earlier this week the Redlands Planning Commission approved Esri’s application for a parking lot across the street from the former La-Z-Boy facility. The lot will hold 249 vehicles.
The property was bought by ACC BLD LCC, an Esri subsidiary, according to Kidder Mathews’ press release. Mark Lyon, the Ontario-based broker who helped put together the sale, confirmed that La-Z-Boy had been the owner of the building.
“This was a value-added transaction with an aggressive purchase price for this region where manufacturing facilities such as this have been in low demand compared to generic warehouses,” Lyon said in the email.
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February 01, 2020 at 12:37AM
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Esri buys former La-Z-Boy factory in Redlands - Redlands Daily Facts
"Factory" - Google News
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