DAUM COMMERCIAL COMPLETES LEASE OF 115,734 SQUARE-FOOT INDUSTRIAL WAREHOUSE IN RANCHO DOMINGUEZ, CALIFORNIA
DAUM Commercial Real Estate Services, a leading provider of commercial real estate services including tenant representation, consulting, leasing, sales, and property management, has completed the lease of a 115,734 square-foot industrial warehouse property in the Los Angeles County submarket of Rancho Dominguez, California on behalf of the lessor, JCQ Industrial. The site was leased for a total consideration of $10.08 million, according to Chuck Brill, Executive Vice President at DAUM.
“As companies consider the rising costs of transportation and labor, many are looking for property features that offer added value to mitigate these challenges,” says Brill, who completed the lease transaction alongside DAUM Executive Vice President Casey Mungo and Vice President Nate Ortega. “This asset includes several valuable features that may not have been immediately discernible to all potential lessees. We were able to demonstrate a variety of possibilities for this property and ultimately secure a long-term lease to a quality tenant on behalf of our client.”
While vacancy rates in the West/South Los Angeles industrial market have increased 17 basis points to 4.8% in the third quarter of 2023, according to DAUM research, net absorption has taken a positive turn for direct spaces. Brill notes that acquiring a flexible location in this market that also offers convenient access to major transportation and population hubs can help to reduce overall transportation costs—a growing concern for those in the logistics industry.
“This property is a great example of what logistics companies are looking for: a variety of configurations to support growth and changing needs, existing amenities for employees, and a location that provides easy access to ports, freeways, and the downtown Los Angeles area,” explains Mungo. “Based on our understanding of the long-term strategies of the tenant and our client, we were able to negotiate favorable lease terms for both parties.”
The property offers easy access to major freeways, including the I-710 and SR-91, and the I-405 is just a few blocks away. Los Angeles International Airport is 18 miles away, and for larger shipping needs, the Ports of Los Angeles and Long Beach are only 8 miles from the warehouse, adds Mungo.
The property features 35 trailer or container spaces, 18 dock high doors, 20-22′ warehouse ceiling heights, as well as convenient loading access at the front of the building. The office space allows configurations that range between 6,500 to 21,000 square feet, depending on the needs of the business. Additional features include ample parking, as well as reception and kitchen areas.
DAUM Commercial represented JCQ as the lessor in this transaction. Tyler Rollema of Klabin Company represented DCW Inc., a warehousing, fulfilment, distribution, and transportation services company, as the lessee.
The property is located at 3040 E. Ana Street in Rancho Dominguez, California.
About DAUM Commercial
DAUM Commercial Real Estate Services is a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales and property management. Founded in 1904, DAUM focuses on longstanding client relationships and draws upon its century-long track record to deliver steadfast insights and proven results to clients across the U.S. DAUM has 11 offices throughout Southern California and Arizona. More information is available at www.daumcommercial.com.