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Sunday, May 19, 2024

2024 Commercial Real Estate Awards: Industrial Lease Deal of the Year

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VITAL STATISTICS
EL MONTE LOGISTICS CENTER
3900 Arden Dr. El Monte
Square Footage: 360,992

Rustin Mork and Danny Reaume of JLL represented the landlord in a 360,992 square foot lease to Eurostar (an entity of WSS/ Footlocker), at El Monte Logistics Center in El Monte. This lease represents the demand for high quality logistics space close in to Los Angeles. There have been a few other large leases of similar or larger size, but this tenant was willing to commit to a long term lease over six months out before construction completion. This is not only due to the location, but due to the rare features of the building, more commonly found on buildings in the Inland Empire and/or other West coast regions, including the crossdock design and 36 foot clearance. In addi- tion, the site features entrances on multiple streets, allowing for truck ingress/egress and drive around circulation, which is rare on an infill Los Angeles industrial building.

Tenants were attracted to this building’s location since it can serve many of the needs of large national retailers, including: proximity to LA/LB ports to the south, proximity to large distribution centers serving national retailers in LA and the Inland Empire and proximity. Additionally, El Monte is a Central SoCal location for proximity to e-commerce customers and labor.


CRE_silver_award

VITAL STATISTICS PARK
131 Marcellin Dr., City of Industry
Square Footage: 240,500

The WinIt America, Inc. long term lease was for a newly developed industrial building of 240,500 square feet in 2023. The building was developed by Majestic Realty and will be completed in 2024.

This lease is significant due to the major expansion of Majestic Realty’s client’s business and providing hundreds of new jobs for the San Gabriel Valley. In addition, the robotics technology for the warehouse is state of the art and a significant investment for the local economy.


CRE_Bronze_Award

VITAL STATISTICS
DRINKPAK AT NEEDHAM RANCH
21905 & 22001 Needham Ranch Pkwy., Santa Clarita
Square Footage: 193,324

DrinkPAK, a next-generation canned beverage manufacturer, is expanding its state-of-the-art beverage manufacturing campus within The Center at Needham Ranch in Santa Clarita. The company is adding two new buildings to its growing campus, occupying more than 1.2 million square feet of production and warehousing facilities.

As an anchor facility for some of the largest brands in beverage, DrinkPAK has four production lines capable of producing more than two billion cans of alcoholic and non-alcoholic beverages annually. The latest production line is an automated variety packing line. The two new buildings of 200 square feet combined will expand their warehouse and distribution services.

 

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