“Nestle has been flirting with abandoning California for years due to its large operations to the east and the desire for consolidation,” the statement said. “For Glendale’s part, Nestle’s departure is seen as closing a chapter and opening doors to future opportunities to re-tenant the space with forward-looking businesses that have a bright future.”
Industry experts said that Nestle’s move is likely also motivated by other factors, including a desire to be closer to policymakers and a need to cut costs as its parent company struggles with slowing sales.