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LOS ANGELES COUNTY NEWS
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Package Delivery Service leases 53k sf Facility in Sun Valley

11/29/17

TForce Final Mile LLC inked a $3.5 mil lease of a 52.6k sf, industrial warehouse in Sun Valley. The lease term was not disclosed.

Located at 11085 Olinda St, the industrial building features six dock-high doors with load levelers and is only minutes from the 5, 170, 118, and 210 freeways. The property had previously been occupied for years by OnTrac, another package delivery company.

CBREs Greg Geraci, David Harding, Billy Walk, and Matt Dierckman represented the landlord, Olinda Properties. The tenant was repped by Patrick DuRoss of Colliers International.

With a sub 1% vacancy rate for larger buildings in the market and limited land for new development, Class B buildings built in the 1960s and 1970s still have value and functionality in the market, whether for entertainment, manufacturing, or last mile distribution uses such as TForce Final Mile, said Harding.

Activity surrounding Class B product increased substantially in the East San Fernando Valley industrial market during the Q2 of 2017, driven by a surge in demand from entertainment companies, aerospace manufacturers and delivery services looking to find suitable last-mile facilities. Demand coupled with limited available product has pushed rents upward. This trend is expected to continue with rents in the Greater Los Angeles.





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