AVID LOGISTICS SIGNS MULTI-YEAR LEASE RENEWAL FOR CORPORATE HEADQUARTERS AND WAREHOUSE DISTRIBUTION CENTER IN UNINCORPORATED LOS ANGELES


January 17th, 2019

The Klabin Company Represents AVID in 64-Month Extension Valued at More Than $5 Million.

(JANUARY 17, 2019 – TORRANCE, CALIF.)The Klabin Company/CORFAC International today announced it negotiated a multi-year lease renewal on behalf of AVID Logistics for its corporate headquarters and warehouse distribution center at 15700 S. Main Street in unincorporated Los Angeles.

The Klabin Company’s Senior Associate Tyler Rollema and Senior Vice President Matthew Stringfellow, SIOR, represented AVID in the 64-month extension for 113,300 square feet of space valued at more than $5 million. The Landlord, Fontana Sierra Corporation, was represented by Lewis Latimer of L2 Companies.

AVID had previously occupied approximately 65,000 square feet of the industrial building on a sublease from Jonathan Louis, a custom living room and bedroom furniture supplier. In the new transaction, AVID leased the entire building from the Landlord due to their need for additional space, while retaining Jonathan Louis as subtenant in a portion of the building.

AVID is a full-service warehousing and fulfillment company, specializing in creating customized solutions for companies around the world. Its services include warehousing and storage, pick and pack, distribution, transportation, delivery services and e-commerce integration.

“AVID was looking to maintain its presence at this location where it has experienced tremendous growth in its 10-year history,” said Rollema. “Although this building suffers some functional obsolescence for many of today’s users, it remained entirely sufficient for our client’s business and, in turn, allowed us to achieve a very competitive lease rate. The location is close to LAX, the ports and has the convenient transportation access that AVID needs to serve its customers locally and around the world. The Landlord is pleased to have them as a tenant for the next five years and beyond.”

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. With clients around the world, The Klabin Company specializes in industrial, office, investment and development services. It combines cutting-edge research and analysis with years of experience to keep abreast of ever-changing market dynamics to ensure the best possible value for its clients in every facet of its business. 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 brokerage, 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., 6 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 10,000 lease and sales transactions totaling 500 million square feet of space valued in excess of $8.0 billion in 2017. Contact CORFAC at (224) 257-4400 or www.Corfac.com.