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11/23/21
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We’ve learned of two major SoCal industrial leasing transactions, totaling over 600k sf, which we’ll mention here.
In one, DNA Motor signed a lease for the entire 350k sf building at 20301 E. Walnut Drive North in City of Industry. The warehouse/distribution building features cross-dock loading on three sides, 35 dock-high positions, nearly 10k sf of office space and 25’-30’ warehouse ceiling clearance heights. The property also has prime access to California State Route 60.
Ron Washle, Mark Kegans and Jim Center with Newmark represented the landlord, Lamps Plus. Rick Sheckter and Johnson Chein, also with Newmark, repped represented DNA Motor in the deal. Lamps Plus is the largest lighting retailer in the U.S. and DNA Motor is a major supplier of automotive exhaust and lighting products.
In the second deal, DCG Fulfillment leased LogistiCenter at Rialto II, a 258.7k sf warehouse/distribution building located at 1645 W Renaissance Pkwy, within the Renaissance Rialto master-planned development. The property completed construction in January 2021 and is strategically located between the I-210, I-15, and I-215 freeways offering easy access to Southern California and the Western U.S.
Washle and Kegans represented DCG Fulfillment, a family-owned third-party logistics provider based in the Inland Empire. The landlord is Dermody Properties.
The insatiable demand for industrial space in the region has led to record-low vacancy. According to Newmark Research, industrial vacancy in the Inland Empire is now lower than in Los Angeles, registering 1.0% as of the third quarter of 2021. This is remarkable considering the significant amount of new supply added to the market in recent years as well as the fact that Los Angeles is a highly mature infill market with lower drayage costs to and from the ports.
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