DAUM Commercial Real Estate Services recently finalized a lease for an industrial property in Montebello, California. The 2.2-acre site includes a state-of-the-art logistics facility spanning 54,648 square feet and is classified as Class A.
The lessor, a real estate investor from Toronto who has been working with DAUM for many years, was represented by EVP Dennis Sandoval. The lessee was represented by Kun Li of Harvest Realty.
According to Sandoval, the current state of the industrial market in Los Angeles County shows signs of improvement despite economic challenges. This transaction serves as evidence that there are opportunities available for owners of industrial properties. In this case, the lessee plans to use the space as their first “last mile” distribution center in the U.S., with potential plans to expand further across the country.
With high vacancy rates over multiple years and growing companies seeking expansion opportunities like this one at well-located properties such as this warehouse in Montebello , it’s clear that now is an ideal time for businesses looking to secure prime locations through short-term leases.
