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

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
Renderings of The Star
The Star, a $500M office tower project, looks to light up Hollywood
The Star, a $500M office tower project, looks to light up Hollywood
The Boyd Street fire in May, 2020 (Getty)
LA fire captain sues building, vape shop owners over May 2020 explosion in downtown
LA fire captain sues building, vape shop owners over May 2020 explosion in downtown
(Getty Images)
SoCal’s “Space Beach” is ready for liftoff
SoCal’s “Space Beach” is ready for liftoff
Clockwise from top left: Kilroy Realty CEO John Kilroy, Boston Properties CEO Owen Thomas, TMG Partners CEO Michael Covarrubius and Eastdil Secured CEO Michael Van Konynenburg (Kilroy, LinkedIn via Thomas, TMG Partners, LinkedIn via Van Konynenburg, Getty)
“We gotta get people back to the office”: West Coast landlord execs press for return
“We gotta get people back to the office”: West Coast landlord execs press for return
Oxford Properties CEO Michael Turner and the campus (Oxford)
Oxford moves into LA with $134M industrial buy
Oxford moves into LA with $134M industrial buy
Post-production campus in Burbank sells for $37M
Post-production campus in Burbank sells for $37M
Post-production campus in Burbank sells for $37M
G6 Hospitality CEO Rob Palleschi and Motel 6 San Jose South, one of the largest assets in the portfolio (G6)
Blackstone’s Motel 6 portfolio gets $685M CMBS loan
Blackstone’s Motel 6 portfolio gets $685M CMBS loan
Sares-Regis Group CEO Rob Wagner and Huntington Gateway
Sares Regis inks tenant for 434K sf unfinished Orange County site
Sares Regis inks tenant for 434K sf unfinished Orange County site
arrow_forward_ios

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

Loading...