Oil Manufacturer Inks 55 KSF CA Lease
- Feb 24, 2018
Sunset Olive Oil has signed a 54,648-square-foot warehouse lease in Montebello, Calif. DAUM Commercial completed the leasing transaction on behalf of the landlord, Emery Investments. This expansion of the tenant will create 20 jobs in the region.
Situated at 1215 Washington Blvd., the asset is near Interstate 5, approximately 15 minutes from downtown Los Angeles. The warehouse was constructed in 1977 and has recently undergone renovations. Improvements include a new roof, new lighting, updated landscaping, as well as interior upgrades. Additional characteristics include four dock-high loading doors, 68 parking spaces and a secure private yard.
“Industrial leasing and sales are poised for a strong year,” said Dennis Sandoval, executive vice president at DAUM Commercial, in prepared remarks. “The Central/Southeast Los Angeles industrial market posted steady occupancy increases in Q4 of 2017, moving from 2.1 percent vacancy to 1.9 percent vacancy. In addition, average asking rents increased 8.1 percent year over year. This is robust growth for the market and represents excellent growth potential for industrial lessors in the year ahead.”
Image courtesy of Google street view