The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
Logistics Firm Takes 187k sf of Cerritos Industrial Space

12/15/14

In a recent SoCal industrial lease comp, third-party logistics firm OTX Logistics Inc signed a lease for 186.8k sf of space in Cerritos. The company’s new space is at the Cerritos Distribution Center, located at 16016-16030 Arthur St, south of Alondra Blvd and east of Norwalk Blvd.

The property houses a Class B warehouse and distribution building featuring 24 dock-high positions and 24-foot warehouse clearance. The building is located with immediate access to the I-5, I-605, US91 and I-105 freeways.

JLL Orange County Senior Vice Presidents Luke McDaniel and Cameron Driscoll along with JLL Los Angeles Vice President Zac Sakowski represented the landlord, IndCor Properties Inc. Lee & Associates repped the tenant.

"OTX Logistics was attracted to the building because it provided functional distribution space to accommodate their consolidation, as well as contiguous space for future expansion," said Driscoll. "Los Angeles' Mid-Counties market continues to be one of the hottest industrial markets in Southern California. Tenants are attracted to this market due to its central location within the L.A. Basin and proximity to the ports and major freeways. Additionally, the market has seen an influx of tenants from the South Bay looking for better values as rental rates rise. The Mid-Counties industrial market has seen over 2 msf of net absorption and vacancy of 3.9 percent through the third quarter."

According to JLL’s sixth annual Seaport Outlook, the West Coast ports remain dominant with Los Angeles and Long Beach combined leading the way when it comes to cargo volume. Fueled by significant leasing activity around the seaports and surrounding areas, market fundamentals continue to tighten and further propel Los Angeles as a landlord-favorable market, according to JLL Research. Gradual rent growth and fewer concessions are expected, as inventory remains scarce amidst sustained tenant requirements.





Return to the Archive page


 


 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media