THE KLABIN COMPANY SECURES LONG-TERM LEASE AT SINGLE-TENANT INDUSTRIAL FACILITY IN SOUTH BAY SUBMARKET OF LOS ANGELES

More than $5.5 million transaction, signifying a return to market balance in the region, negotiated on behalf of building owner, Alere Property Group, LLC.

(December 2, 2024 – TORRANCE, CALIF.) – Signifying a return of some balance in the South Bay industrial market, The Klabin Company/CORFAC International today announced it filled a significant vacancy with the completion of a seven-year lease for a 52,572-square-foot industrial facility at 1405-1407 240th Street in the Harbor City area of Los Angeles. The Klabin Company’s Courtney Bell and Matt Stringfellow, SIOR represented the Landlord, Alere Property Group, LLC, in the more than $5.5 million transaction.

The property, located in the South Bay submarket on 2.64 acres of land, became available for lease during a challenging market for industrial real estate in the region. The new tenant is Total Safety U.S., Inc., a leading provider of integrated safety strategies and solutions for hazardous environments globally. Total Safety, who is relocating from a smaller building in Rancho Dominguez, was represented by Brian Held and Ron Wade of CBRE.

The facility at 1405-1407 240th Street features 4,500 square feet of office, 1600 amps of power, four dock-high positions, four ground-level doors, up to 25’ of clear height and fenced, private yard. The concrete tilt-up building was constructed in 1999.

Alere Property Group is a fully integrated real estate firm specializing in the investment and development of industrial assets in Southern California and San Francisco Bay Area. Since its founding in 2003, the company has developed or acquired more than 30 million square feet of industrial assets. As a full-service real estate operating company, Alere acquires industrial properties, oversees land and building development, design, engineering, financing and asset management activities.

“When the previous tenant vacated this building two years ago, we were at the mercy of a market that had become challenging to say the least,” said Bell. “We knew it was a matter of finding the right tenant and we are pleased that Total Safety emerged as the lessee. This is a stabilized investment with a financially secure owner and the property is well located. For these reasons, it was an attractive building for Total Safety as it relocates and expands its footprint.”

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.

Courtney Bell & Matt Stringfellow, SIOR represent Landlord in long-term lease transacation over $5.5 million with new Tenant Total Safety U.S., Inc. in the Harbor City area of Los Angeles.