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

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

Jun.June 22, 2017 09:30 AM
The warehouse at 16400 Trojan Way and Collier’s Chris Sheehan

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

Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

LA promo

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

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

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project