|
|
2/27/18
|
Sunset Olive Oil leased a 54.6k sf warehouse structure in Montebello. The property is located at 1215 Washington Blvd, between I-5 and I-605.
Sunset Olive Oil, which will maintain its occupancy in its existing processing plant, also in Montebello, is expanding into this warehouse to meet additional needs for storing and distributing raw materials and its finished products.
The property was recently upgraded with a new roof, new lighting, updated landscaping, refreshed office space with skylights, and both interior and exterior improvements. Additional features include four dock-high loading doors, 68 parking spaces, and a secure private yard.
Dennis Sandoval, Kevin Sandoval, Kurt Yacko, and Bryan Sandoval, all with DAUM Commercial, represented the property owner, Emery Investments, a Toronto-based privately owned real estate development and property management company. The tenant was repped by Mark Repstad with Realty Advisory Group.
“This expansion and lease was a win-win for Los Angeles County, and for our client,” says Dennis Sandoval. “Keeping manufacturers in the LA Basin is a priority for local leaders, especially as many businesses expand out of state, into Texas, Arizona and Nevada. In this case, we worked closely with the City of Montebello and LA County to identify the right tenant for this property, which will create approximately 20 new jobs in the region.”
“Industrial leasing and sales are poised for a strong year,” he says. “The Central/Southeast Los Angeles industrial market posted steady occupancy increases in Q4 of 2017, moving from 2.1% vacancy to 1.9% vacancy. In addition, average asking rents increased 8.1% year-over-year. This is robust growth for the market and represents excellent growth potential for industrial lessors in the year ahead.”
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
