Vacant Los Angeles Industrial Asset Reaches Full Occupancy
- Nov 09, 2015
Nearing the end of what has been the company’s most active year, Southern California-based Rexford Industrial Realty has announced the successful execution of a large eight-year lease at one of its facilities, bringing the facility to full occupancy. The company completed an agreement with moving and storage services company PODS Enterprises for space at a San Fernando Valley industrial asset.
The lease transaction was completed for 90,348 square feet of space. The process was handled by Delphi Business Properties representative Jeff Puffer on behalf of the landlord, while the new tenant worked with Alex Beacham of Cushman & Wakefield.
Located at 7900 Nelson Road, the facility offers a total of 202,905 square feet of industrial space. Offering 28- to 30-foot clear heights, the best-in-class facility operates at full occupancy following the latest deal. The property offers close proximity to the 101 and I-405 freeways.
The latest deal is the second completed at the property, after Rexford Industrial brought on PureTek as the asset’s largest tenant earlier this year. The producer of pharmaceutical, nutritional and personal care products inked a ten-year agreement for 112,557 square feet of space in July 2015. 7900 Nelson Road was acquired by Rexford Industrial back in 2014 when the property was vacant. Since then, the company converted the single-tenant property into a two-tenant asset.
Image courtesy of Rexford Industrial Realty