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May 28, 2020
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Moulton Logistics Management Inc Renews 255k sf of Industrial Space in Van Nuys


Moulton Logistics Management Inc renewed leases totaling 255.4k sf of industrial space at two adjacent properties located in Van Nuys. Moulton – an order fulfillment & logistics provider founded in 1968 and headquartered in Van Nuys -- is renewing 175.7k sf at 7855 Hayvenhurst Ave and 79.7k sf at 16620 Stagg St.

CBRE’s Bennett Robinson represented the tenant and the landlord, Prologis, at both buildings. Prologis is the top industrial owner in the Greater Los Angeles, Inland Empire and Orange County region with more than 82.4 msf in rentable building area across the region, according to CBRE data.

“Although these buildings are not new, they are state of the art and sit in an excellent location,” said Robinson. “Our region boasts some of the lowest industrial vacancy in the nation. Many of our clients prefer to renew their leases – even if they reset at a higher level – than trying to find suitable product anywhere else.”

The Greater Los Angeles area continued to attract interest from a plethora of e-commerce activity in the first quarter due to strong local demographics. Over the last 12 months, e-commerce related users accounted for more than 26 percent of total gross activity. The industrial vacancy rate in the Greater Los Angeles region in the quarter remained at a low 1.5%, according to CBRE’s latest research report. The tight industrial market prompted tenants to renew, particularly those occupying larger blocks of space more than 50k sf, accounting for nearly 30% of all leases.

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