Chinese logistics firm inks big lease in City of Industry

Soho Logistics signed a deal with LA County Employees Retirement Association to occupy 170K sf at Nelson Business Park

Mar.March 12, 2019 01:00 PM
14736 Nelson Avenue (Credit: Google Maps)

The transportation firm Soho Logistics inked a lease for 168,900 square feet in the City of Industry, as Los Angeles’ industrial market continues its hot streak, propelled in part by the rising need for so-called last-mile distribution facilities.

The China-based firm signed an $11.2 million lease over seven years with the building owner, Los Angeles County Employees Retirement Association, according to the Los Angeles Business Journal. The complex is located at 14736 Nelson Avenue, part of Nelson Business Park. It includes 21 loading docks.

CBRE represented Soho Logistics, while Lee & Associates represented the employees retirement association.

The City of Industry is zoned almost completely for industrial use, and a recent influx of manufacturing investment has raised asking prices in the past year. As e-commerce drove L.A.’s hot industrial market, many firms have turned to places like the City of Industry. And during the fourth quarter of last year, 13.6 million square feet of industrial space was sold or leased in Los Angeles, up from 9.3 million square feet the previous quarter.

The employees retirement association has already had a busy 2019. The pension fund announced plans to invest $250 million in the international real estate market this year. Last month, it sold a mixed-use building at 1231 S. Hill Street in South Park to Mack Real Estate for $180.1 million[LABJ]Gregory Cornfield

Related Articles

NAI Capital Vice President of Research, Marketing, and Communications J.C. Casillas and the Port of Los Angeles (Credit: iStock)

LA’s industrial market may be at max capacity

Transwestern CEO Carleton Riser and the Inland Empire property

Inland Empire’s industrial reign continues as Transwestern buys massive Eastvale warehouse site

Terreno Realty Chairman & CEO W. Blake Baird

Terreno Realty makes another industrial play in LA

From left: Prologis CEO Hamid Moghadam, and Randall L. Stephenson, chairman and CEO of AT&T Inc, with the site

Industrial powerhouse Prologis picks up 11-acre property in Commerce

ASB CEO Robert Bellinger and Columbia Business Park

This industrial deal was one of the biggest acquisitions ever in Inland Empire

CIO Matt Evans, COO Alan Kraft and Todd Platt, CEO of Hillwood with Dedeaux Sycamore Canyon Distribution Park

Dedeaux Properties buys 1M sf industrial portfolio in Inland Empire

Lonzo Ball and the warehouse (Credit: Getty Images)

This just-traded LA Laker just sold his South LA warehouse

Northwestern Mutual CEO John E. Schlifske and the building

Massive industrial park in Los Alamitos sells for nine figures