ADP Express inks 85K sf lease in Rancho Dominguez

Los Angeles /
Aug.August 01, 2018 11:00 AM
CenterPoint Properties Trust CEO Bob Chapman

A freight shipping and truck company leased an 85,000-square-foot warehouse property in Rancho Dominguez, amid a continuing strong Los Angeles industrial market.

Katy, Texas-based ADP Express signed the five-year deal at 2988 East Ana Street with CenterPoint Properties Trust, an industrial investor based in Chicago.

The single-story property was built in 1969 and includes eight loading docks and nine drive-in bays. The site spans 6.5 acres with rooms for modern trucks to operate. The price per square foot for the lease was not disclosed.

Larem, a Carson-based industrial brokerage, advised on the deal. Ed Whittemore represented ADP Express and Jay Jasaitis represented CenterPoint.

CenterPoint is part of CalEast Global Logistics, an investment vehicle owned largely by California Public Employees’ Retirement System.

Centerpoint purchased the Rancho Dominguez property in April for $22.2 million from a Newport Beach LLC. Last month, CenterPoint also paid $21 million for a warehouse in Harbor Gateway.

Industrial real estate is hot around the country, but it’s especially strong in the L.A. area. Warehouse space is in such demand that older properties are getting sold for and renting at price levels near that of newer, more modern facilities. That comes as investors look to secure real estate and tenants battle for space.


Related Articles

arrow_forward_ios
Howard Schwimmer and Michael S. Frankel with 3629-3963 Workman Mill Road (top) and 13943-13955 Balboa Boulevard (Google Maps)

Rexford pays $340M for 2 industrial parks

Rexford pays $340M for 2 industrial parks
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
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
Golden Springs Business Center

Logistics firm inks big lease in Santa Fe Springs as industrial demand remains high

Logistics firm inks big lease in Santa Fe Springs as industrial demand remains high
Heather Crossner and the site (Credit: Google Maps)

Bridge Development plans distribution center outside Torrance

Bridge Development plans distribution center outside Torrance
Daniel J. Moore and the site (Credit: Rockefeller Group)

Rockefeller Group snags Inland Empire site for logistics centers

Rockefeller Group snags Inland Empire site for logistics centers
Chris DeWitt, and the property (Credit: Google Maps)

Made Goods furniture wholesaler inks giant lease in City of Industry

Made Goods furniture wholesaler inks giant lease in City of Industry
arrow_forward_ios

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

Loading...