Apex International Expands Footprint with New Lease
- May 17, 2018
Apex International─a global supply chain solutions provider─has signed a 10-year lease with Industrial Property Trust, for a 104,339-square-foot industrial facility in Rancho Dominguez, Calif. Daum Commercial arranged the leasing transaction on behalf of the landlord, and Realty Advisors represented the tenant. Apex International has relocated from a nearby 34,500-square-foot building.
Positioned at 18554 S. Susana Road, the facility sits on 4.2 acres near interstates 710 and 405, roughly 15 minutes from Long Beach Airport. The Los Angeles and Long Beach ports are also easily accessible from the property. The asset was built in two phases in 1956 and 1988 and underwent a $2.5 million cosmetic renovation in 2017. The rejuvenation included the expansion of a truck court, the addition of dock-high loading doors and the development of a 10,000-square-foot office space. Additional characteristics of the building include warehouse clearance up to 26 feet, a secured yard and a calculated sprinkler system.
“The lease to Apex International continues to prove the strength of this investment for our client,” said Michael Collins, vice chairman of DAUM Commercial, in prepared remarks. “The Los Angeles West/South industrial submarket posted a steady sub-2-percent vacancy rate in the fourth quarter of last year and asking rents have increased nearly 10 percent over the past year. Based on our long-term relationship with the lessor and experience in the region’s industrial market, we were able to identify and secure an ideal, high-quality tenant.”
Image courtesy of DAUM Commercial