|
|
7/14/21
|
Lief Labs, a manufacturer and product development innovator of dietary supplements, signed a long-term lease for a 111.3k sf industrial building in Valencia. The building, located at 29025 - 29055 Avenue Paine, is currently under construction and is expected to be completed by December of 2021.
The property is owned by Rexford Industrial Realty. Initially designed as a four-tenant property, Rexford will be making minor interior modifications to accommodate Lief’s specific needs.
Lief Labs, which began business in 2008, was recognized on the Inc. 5000 fastest-growing private companies list six times and has been rapidly expanding. In 2018, Lief Labs leased the adjacent 112k sf building located at 28903 Avenue Paine, which is also owned by Rexford Industrial. Lief will remain in the space, and the adjacent state-of-the art facilities will function as Lief’s primary operational hub.
In 2018, Rexford Industrial also purchased a 47k sf building nearby at 28510 W. Industry Drive, which Lief once occupied but outgrew. Since then, the two companies have built a strong partnership.
CBRE’s Craig Peters and Sam Glendon represented Rexford in the transaction. Ashland Pacific repped Lief Labs.
“Industrial vacancy rates are quickly approaching 0% for functional larger buildings in the North Los Angeles Market at a time when demand is reaching all-time highs,” noted Peters. “Lief Labs was made aware of this supply/demand imbalance and started lease negotiations early in the construction process. The result was a win-win-win scenario for Rexford, Lief and Lief’s customers.”
Strong tenant demand for distribution space drove the Greater Los Angeles industrial market to its 3rd consecutive quarter with over 10 msf of gross activity and larger warehouses have become increasingly harder to find, according to CBRE’s research. Strategically located distribution centers are highly important for the success of retailers.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
