Legacy Building 711 2014 on Harmon Avenue.

Legacy Building 711 2014 on Harmon Avenue.

Third-party logistics and supply chain services company FNS Inc. has leased an industrial building in Carson in a deal valued at $35.5 million.

The multiyear lease is for 242,900 square feet at a building owned by Watson Land Co. at 18620 Harmon Ave.


The property, dubbed Legacy Building 711, was built in 2001 and is part of the Dominguez Technology Center, which sits on nearly 13 acres.


The building has 280 parking spaces and a large truck yard, both desirable to industrial tenants now, according to market experts.


Coldwell Banker’s James Kong represented FNS in the lease transaction.

 
“The building immediately meets the tenants’ business needs on an operational level with streamlined efficiency and ample space, all within the convenience and strategic location of South Bay,” Kong said in a statement.


With its proximity to the ports, freeways and population centers, the South Bay is one of the nation’s most in-demand areas for industrial properties.

 
The South Bay has roughly 196.5 million square feet of total industrial inventory, according to data from Jones Lang LaSalle Inc.

 
During the fourth quarter of last year, 4.7 million square feet of space either sold or leased in the area, up from 3.7 million square feet the quarter before.


Asking rent for space in the area was $1.03 on a triple net basis, up 2 cents in a year. It was the highest asking rent of any industrial submarket in L.A., according to JLL data.


The Carson area has been in high demand. Last year, Brookfield Asset Management Inc. purchased two industrial buildings in the city for $63.6 million.


Western Tube & Conduit Corp., which occupies the buildings, sold the portfolio as part of a sale-leaseback transaction.


The buildings are located at 2001 E. Dominguez St. and 20740-20750 S. Wilmington Ave.

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