THE KLABIN COMPANY COMPLETES INDUSTRIAL LEASE TRIFECTA WITH TRANSACTIONS IN TORRANCE

The three separate transactions, with a combined value of almost $13 million, are executed the for leading industrial real estate firms of Rexford Industrial and Storm Properties, Inc.

(September 9, 2024 – TORRANCE, CALIF.) – Continuing the trend of recent transactions for non-logistics related uses, The Klabin Company/CORFAC International has completed a trifecta of leases in Torrance. The company today announced it negotiated the leases of three buildings, with a combined value of almost $13 million, for the leading industrial real estate firms of Rexford Industrial (NYSE: REXR) and Storm Properties, Inc. in the desirable South Bay city. The tenant for all three transactions was All Access Staging & Productions, a world-wide leader in the live entertainment business.

Rexford Industrial is a real estate investment trust ("REIT") focused on creating value by investing in and operating industrial properties throughout infill Southern California.

Storm Properties is a leading developer, owner, and manager of residential, industrial, and commercial properties with a primary focus in Southern California and Phoenix.

The Klabin Company’s Matt Stringfellow, SIOR, and Courtney Bell represented Rexford and Storm in the completion of all three leases with an average price per square foot of $1.75 net. All Access was represented by Dave Stromath of CBRE.

In the first transaction, Stringfellow and Bell finalized a 61-month lease renewal for the Rexford-owned 32,800-square-foot industrial building at 1300 Storm Parkway in Torrance. The concrete tilt-up building, situated on more than 1.7 acres, features 1,000 square feet of offices, six ground-level doors, two dock-high positions and 26’ clear height.

In the same business park, at 1320-1330 Storm Parkway, All Access signed a 61-month lease renewal for 38,850 square feet. Set on almost two acres, this concrete tilt-up building features 8,700 square feet of office space, two ground-level doors, four dock-high positions and 25’ clear height. All Access has occupied the two Storm Parkway properties for several years.

As part of its expansion, All Access committed to a 61-month lease at the Storm Properties-owned industrial building at 23223 Normandie Ave. in Torrance. It features a total of 41,936 square feet with 7,330 square feet of offices and 155 parking space on more than 2.6 acres. Storm Properties will fully refurbish the property, reducing and remodeling the offices, while giving the exterior and interior a full makeover.

“There were several moving parts in these three transactions, but fortunately Courtney and I have a successful history with both Landlords and the tenant,” said Stringfellow. “The Storm Parkway properties have served All Access well for many years, so Rexford was pleased that we could renew them again in both buildings. With the property on Normandie Avenue, we were able to get a lease done that allowed Storm to fully reposition this asset including major demo, remodeling, upgrades, and other tenant improvements.”

Founded in 1991, All Access specializes in set design and production services for concerts, television, festivals, special events, award shows and sports entertainment. The company has been responsible for Super Bowl halftime shows, the Grammys, the Daytime Emmy Awards, the Democratic National Convention, the Michael Jackson Memorial, the Coachella Valley Music & Arts Festival, the MTV Video Music Awards and touring acts such as Billy Joel, Elton John, Madonna, Jay-Z, Eminem, Coldplay and many more. 

About The Klabin Company/CORFAC International

Now in its seventh decade of operation, The Klabin Company/CORFAC International is ranked among the top commercial real estate companies based in Los Angeles. Built on the principles of an open and enduring culture, the company has maintained its independence as a privately-owned business since 1961. The Klabin Company emphasizes how the sharing of information, experience and relationships among all colleagues works to everyone’s advantage. The firm is dedicated to the needs of its clients, and through this commitment, it has remained successful for years. The Klabin Company is affiliated with CORFAC International. For more information go to www.Klabin.com. 

About CORFAC International

CORFAC International is a global network comprising private held entrepreneurial commercial real estate 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 75 offices in the U.S., Canada and international markets, including Australia, France, Germany, Ireland, Italy, Japan, Malaysia, Mexico, Netherlands, Romania, Russia, Singapore, South Korea, Switzerland, Thailand and United Kingdom. CORFAC offices close an average of 10,000 lease and sales transactions valued in excess of $9.0 billion annually, totaling 500 million square feet closed and 65 million square feet managed worldwide. Contact Jonathan Salk, CORFAC Executive Director, at (224) 257-4400 or jonathan@corfac.com or visit www.corfac.com.

The Klabin Company completes trifecta of leases in Torrance, valuing almost $13 million.