Distributor will boost its Headquarters/Distribution Center Occupancy by 82,000 Square Feet
Cushman & Wakefield has completed a 270,000-square-foot lease renewal and expansion on behalf of L.A. Specialty Produce Co. at 13527 Orden Drive in Santa Fe Springs. With the signing, the wholesale produce, dairy and specialty foods distributor will expand its headquarters and warehouse operations by 82,000 square feet.
L.A. Specialty Produce was represented in the transaction by John McMillan and Jeff Sanita of the commercial real estate services firm’s Los Angeles South-Torrance office. The landlord, Thrifty Oil, an affiliate of Golden Springs Development Co., was represented by Clyde Stauff and Steve Calhoun of Colliers.
“L.A. Specialty Produce will grow into the expanded space as an existing tenant phases out over the next 18 months, resulting in a full-building tenancy,” said McMillan. ”This building is a rare class A cross-dock, with 122 dock-high positions. This type of building is extremely difficult to find.”
The site is located within Golden Springs Business Park, a 5.5 million-square-foot, 265-acre master-planned industrial park near the center of Los Angeles County. It is near the intersection of I-5 and I-105, within the triangle formed by those routes and I-405. The park was developed by Golden Springs Development Co. on the site of a former refinery owned by Thrifty Oil.
“This is one of the best industrial parks in all of Southern California, developed by a prominent local firm,” said McMillan. “This is a fantastic location for L.A. Specialty Produce to service their clients throughout Southern California, and this transaction is a clear sign of their commitment to this marketplace.
“The local industrial markets are very tight, and finding class A space of this quality and type is very difficult,” he said.
Cushman & Wakefield's industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2012, in the U.S. alone, this group completed more than 7,020 industrial real estate transactions - totaling 261 million square feet - with an aggregate value in excess of $8.43 billion.