LOGISTICS COMPANY’S LONG-TERM LEASE RENEWAL REFLECTS TENANTS SEARCHING EARLIER FOR SOUTH BAY INDUSTRIAL SPACE


October 4th, 2017

RANCHO DOMINGUEZ, CA – An indicator that tenants of industrial buildings are looking “earlier and earlier” to secure lease renewals in a tight South Bay submarket, Vanguard Logistics Services, a leading neutral freight consolidation service, has signed a long-term lease renewal for a 201,450 square foot building in Rancho Dominguez, CA, announces The Klabin Company/CORFAC International.

 
Klabin officials report that Vanguard Logistics Services will continue to occupy a concrete tilt-up building located at 2665 E. Del Amo Blvd. for use as a distribution hub. The company began negotiating the recently signed 62-month lease with one year remaining on its current lease.

 

Frank Schulz, SIOR, managing principal for The Klabin Co., with firm colleagues David Prior, SIOR, senior managing principal, and Todd Taugner, SIOR, executive vice president/principal, represented Prologis, the property owner in the lease transaction valued at $9.8 million. Savills Studley represented the tenant.

 

“In a market with less than one percent vacancy, tenants are looking earlier and earlier to secure their lease renewals. The Del Amo property is unique given its low building coverage, and close proximity to the ports,” Schulz said.
Established in 1978, Vanguard Logistics Services offers forwarders and customers of all sizes the world’s largest owned LCL (Less than Container Load) end-to-end network, scheduling integrity and industry leading information technology applications, according to its web site.

 

About The Klabin Company/CORFAC International

Now in its sixth decade, The Klabin Company/CORFAC International is ranked among the top commercial real estate companies based in Los Angeles. The firm is affiliated with CORFAC International. For more information go to www.klabin.com.

 

About CORFAC International

CORFAC International is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail properties, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 47 firms in the U.S., five in Canada and 27 in international markets, including Australia, Colombia, France, Germany, Ireland, Israel, Italy, Mexico, Romania, Russia, South Africa, South Korea, Switzerland and the United Kingdom. CORFAC offices completed more than 11,000 lease and sales transactions totaling 500 million square feet of space valued in excess of $8.5 billion in 2016. For more information on the CORFAC network, call the Chicago headquarters at 224-257-4400 or visit www.corfac.com.