Ground Lease Signed by Energy Firm, Adjacent Site Acquired

Commerce Energy Storage, LLC has signed a long-term ground lease for a 50,073-square-foot building located on 4.78 acres at 6920 E. Slauson Avenue in Commerce and acquired an adjacent site of 2.23 acres located at 6904 E. Slauson Ave to develop warehouses that will house its vaults of batteries used to store power for customers.
JLL’s Jon Reno, Mark Vanis, Trevor Gale and Sage Segal represented all parties in both transactions with strong fundamentals for industrial space in the Los Angeles area driving owner-users and investors to redevelop older/obsolete buildings and sites into something other than vehicles/truck/container storage or raw material storage that contributes to the ESG/carbon neutral movement..
“These transactions are an excellent example of utilization of two industrial outdoor storage (IOS) sites (one being environmentally impacted) as part of this effort,” said Gale.”