Prologis finds replacement tenant for American Apparel’s La Mirada warehouse

Daiso's 220K-sf lease is worth about $12M

TRD LOS ANGELES /
Jun.June 22, 2017 09:30 AM

Pour one out for American Apparel.

San Francisco-based Prologis, the owner of the retailer’s former worldwide distribution center in La Mirada, has found a new tenant — Daiso California — to fill the space.

The deal comes just six months after a bankruptcy court approved the $88 million sale of embattled American Apparel’s intellectual property and manufacturing equipment to Gildan, a Canadian wholesale apparel company.

Daiso, a division of Japanese home goods retailer Daiso Industries, signed a six-year lease for the 220,000-square warehouse at 16400 Trojan Way. The deal is worth roughly $12 million, the Los Angeles Business Journal reported.

Colliers International’s Christopher Sheehan, Nicolas Vranka and Connor Reeves represented Prologis. Cushman & Wakefield’s Mike Foley, Chuck Berger, Ryan Bos and Dave Hess represented Daiso.

American Apparel’s lease was slated to expire in July, but Prologis cut it short after the brand filed for bankruptcy late last year.

The vacancy rate in the submarket, known as Mid-Counties, currently hovers below 1 percent.

“It’s a landlord’s market,” Sheehan told the Business Journal. “Tenants have to move quickly when they see a property they like, because it likely won’t be available for long, and they’ll be competing with other potential tenants.” [LABJ]Cathaleen Chen


Related Articles

arrow_forward_ios
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
California is allowing barbershops and salons to reopen under new coronavirus mitigation guidelines (Credit: Noam Galai/Getty Images)

California allows barbershops to reopen, but LA holds back

California allows barbershops to reopen, but LA holds back
LA County assessor Jeffrey Prang

LA County properties valued at nearly $2 trillion…before pandemic

LA County properties valued at nearly $2 trillion…before pandemic
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

Garcetti orders a moratorium on commercial evictions in LA
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!
From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Rexford Industrial adds to LA portfolio with $100M in acquisitions
Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...