Kidder Mathews Closes Full-Building Los Angeles Lease
- Oct 23, 2020
Kidder Mathews has arranged a 141,872-square-foot, full-building industrial lease in Pico Rivera, Calif. Senior Vice Presidents Jon Reno, Mark Vanis and Trevor Gale, along with Senior Associate Connor Ulf assisted the tenant, A-Thread Apparel, an online retailer. The company does business under the Coop Home Goods name and also provides logistics services to specialized Amazon sellers.
Located on 7 acres at 7860 Paramount Blvd., the facility has a 7,551-square-foot office component, ESFR sprinklers, 32-foot clear heights, one drive-in and 19 dock-high loading doors. The building’s owner, Sares Regis, acquired a 104,118-square-foot industrial asset on the site in 2017 for $10.5 million, according to Yardi Matrix. Following the sale, the dated structure was demolished and replaced by the existing facility in 2019.
The property is a short distance from Interstate 5 and 10 miles southeast of downtown Los Angeles. The metro’s central industrial submarket has a vacancy rate of 2.2 percent for assets of a similar size, according to Jon Reno.
In June, a different Kidder Mathews team facilitated a 436,350-square-foot full-building lease at KKR’s Indian Commerce Center, 60 miles east in the Inland Empire. The brokerage assisted the tenant, Toolots Inc.