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3/12/19
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Soho Logistics signed an $11.2 mil lease for 168.9k sf of space at Nelson Business Park in City of Industry. The tenant is a local, diverse distribution logistics company with accounts that range from apparel to foods.
Located at 14736 Nelson Ave, the industrial space is part of Nelson Business Park in City of Industry. The property features a high ceiling clearance of 32’, fully fenced and secured yard, ESFR sprinkler system and ample dock positions. The building sits roughly two miles from three major California freeways—the 10, 60, and 605.
CBRE’s Cannon Chang, Jason Chao, Case Dahlen and Lynn Knox represented Soho Logistics in the deal.
The Greater Los Angeles industrial market began 2018 with impressive occupancy gains, according to a CBRE research report. Proximity to the numerous airports and ports continues to draw e-commerce, distributors, and cargo-centered sea-and-air users to the region. Strong market fundamentals and limited supply kept the market favoring landlords and rents rising. It is expected that occupancy gains will be steady throughout 2019 and approximately 1.7 msf of positive net absorption is anticipated next year, driven by port activity and online shopping.
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