{"id":37073,"date":"2023-10-26T12:54:28","date_gmt":"2023-10-26T09:54:28","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=37073"},"modified":"2025-03-25T16:08:44","modified_gmt":"2025-03-25T13:08:44","slug":"lax-freight-inks-lease-for-staley-point-owned-warehouse-in-la-county","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/lax-freight-inks-lease-for-staley-point-owned-warehouse-in-la-county\/","title":{"rendered":"LAX Freight Inks Lease for Staley Point -Owned Warehouse in LA County"},"content":{"rendered":"

Third-party logistics firm\u00a0LAX Freight Delivery\u00a0has closed on a lease deal that will enable it to occupy the entire 123,000-square-foot warehouse at 2187 Garfield Ave.\u00a0in Commerce, Calif.<\/a> The agreement represents an upgrade for LAX Freight and will increase its footprint in the Los Angeles County warehousing market.<\/p>\n

A JLL team consisting of Jon Reno,\u00a0Mark Vanis,\u00a0Trevor Gale\u00a0and\u00a0Sage Segal\u00a0brokered the deal on behalf of Staley Point Capital.\u00a0Marc DiGennaro\u00a0of\u00a0Lee & Associates conducted negotiations on behalf of LAX Freight Delivery. Terms of the lease were not disclosed.<\/p>\n

Located just six miles east of downtown and spread across seven acres, the property is owned by a joint venture of Staley Point Capital and Bain Capital Real Estate. The current owners paid roughly $38.5 million<\/a> for the industrial building in September 2021, securing $31 million in financing from Mesa West Capital just a couple of months later.<\/p>\n

\u201cDespite the current economic climate, we see continued interest for industrial space in key infill markets like Los Angeles with buildings offering unique attributes for the supply chain logistics industry,\u201d Reno\u00a0said. \u201cLAX Freight Delivery was attracted to this recently renovated property because of its low coverage and cross-dock loading configuration.\u201d<\/p>\n

In a similar transaction,\u00a0Dedeaux Properties\u00a0recently completed a deal for an 882,000-square-foot property owned by 99 Cents Only Stores. The Dart Warehouse \u2014 a 24-acre facility in Commerce, Calif. \u2014 went for $190 million or roughly $238 per square foot.<\/p>\n

Manufacturing users and specialty third-party logistics businesses like LAX Freight Delivery have provided a much-needed boost to the central LA market, which had been struggling due to the prevalence of small and midsize industrial properties within the area.<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

Third-party logistics firm\u00a0LAX Freight Delivery\u00a0has closed on a lease deal that will enable it to occupy the entire 123,000-square-foot warehouse at 2187 Garfield Ave.\u00a0in Commerce, Calif. The agreement represents an upgrade for LAX Freight and will increase its footprint in the Los Angeles County warehousing market. A JLL team consisting of Jon Reno,\u00a0Mark Vanis,\u00a0Trevor Gale\u00a0and\u00a0Sage…<\/p>\n","protected":false},"author":56,"featured_media":37074,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37,38,4014,41],"tags":[],"class_list":["post-37073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-featured","category-industrial","wpautop"],"acf":[],"yoast_head":"\nLAX Freight Leases L.A. 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