New York-based Maran is nearly doubling its capacity from its current location with the new 151,000-square-foot lease at 13220 Orden Drive in the Golden Springs Business Center.
SVN International Corp.’s Mike Cassidy represented Maran in the lease. Landlord Goldensprings Development Co. was represented by Colliers International Group Inc.’s Clyde Stauff and Stephen Calhoun.
The new building has 40-foot clearances — larger than Maran’s current location in Rancho Dominguez, which has 30-foot clearances.
The company is expected to move into the facility early next year.
“They needed to expand. They increased their capacity by almost doubling it,”
The facility is slightly farther from the ports, but Cassidy said the tier of the business park and bigger size made it more desirable.
“They like quality,” he said.
Despite Covid-19, Cassidy said “it was a pretty seamless transaction.”
Industrial space has been in high demand during the pandemic.
In the third quarter, 13.7 million square feet of industrial space sold or leased in L.A. County, according to data from Jones Lang LaSalle Inc.
The vacancy rate countrywide was 3.6%.
Nationally, industrial space has seen 41 straight quarters of positive net absorption, according to CBRE Group Inc.
“While many sectors of commercial real estate still are still taking stock, the industrial and logistics sector has hardly broken step,” CBRE Senior Economic Advisor and Chairman of Americas Research Spencer Levy said in a statement.
In L.A., there have been a larger number of industrial leases lately.
Aircraft parts manufacturer and distributor Herber Aircraft Service Inc. signed a 15-year lease for the Nash & Maple Center in El Segundo at 755 N. Nash St., where Cohen Asset Management Inc. is the landlord.
Mega Lion Inc. signed a lease for roughly 132,000 square feet at an industrial property at 13021 Leffingwell Road in Santa Fe Springs owned by Golden Springs.
And furniture company Ardmore Home Design Inc.’s wholesale furniture brand Made Goods signed a 282,000-square-foot lease at 918 S. Stimson Ave. in the City of Industry. The building will be used for its corporate headquarters and warehouse expansion.
Property owner Prologis Inc. has also signed a handful of large leases.
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