Broadcast production firm inks big lease at Prologis industrial center

NEP Group, which also provides streaming services, adds to the strong demand for industrial space in LA

Los Angeles /
Jun.June 19, 2019 08:00 AM
Prologis CEO Hamid Moghadam, NEP’s chief strategy officer Carrie Galvin, and the building
Prologis CEO Hamid Moghadam, NEP’s chief strategy officer Carrie Galvin, and the building

Heading into summer, demand for industrial property in Los Angeles remains hot.

Prologis, one of the largest industrial landlords in the county, has signed a production firm to occupy a 108,200-square-foot distribution center in Van Nuys.

It marks the fourth major industrial deal for the San Francisco-based real estate investment trust in the past month, after having already scored two other Van Nuys leases and a big tenant in the Inland Empire.

Pittsburgh-based NEP Group will occupy the Van Nuys distribution site at 7850 Ruffner Avenue. It features 10 loading docks, a gated yard, and is located near the Van Nuys Airport.

NEP provides outsourced services for major events. The rapid increase of streaming and production services has more than doubled annual demand in the L.A. region for industrial space for film and television series, according to a recent report by CBRE, which represented Prologis in the transaction. More than 1.7 million square feet of production space was leased in 2018, compared to 780,000 square feet in 2011.

San Francisco-based Prologis also recently secured two leases totaling totaling 255,400 square feet at other properties in Van Nuys, and signed a baby products company to a 10-year lease at a 450,000-square-foot warehouse in the Inland Empire, the industrial capital of the country.

Other recent industrial deals in L.A. include Rexford Industrial’s $118.1-million purchase of the 29-acre San Fernando Business Center in April, and a five-year lease CenterPoint Properties secured at its last-mile warehouse in Harbor Gateway North.


Related Articles

arrow_forward_ios
Midwood CEO John Usdan  and a rendering of  Sportsmen’s Lodge hotel (Midwood, Kilograph)
Sportsmen’s Lodge Hotel redevelopment catches environmental endorsement
Sportsmen’s Lodge Hotel redevelopment catches environmental endorsement
From left: Juanita’s Foods' Mark De La Torre, Duke Realty's James Connor, and Juanita’s Foods' Aaron De La Torre with 645 George De La Torre Jr
Duke Realty buys food processing plant near ports for $171M
Duke Realty buys food processing plant near ports for $171M
The Home Depot's Ted Decker with 16830 Devonshire St
Home Depot plans to build 136K sf store in Granada Hills
Home Depot plans to build 136K sf store in Granada Hills
Duke Realty's James Connor (Duke Realty, Getty, Google Maps)
Duke Realty shells out nearly $100M for empty land in the Inland Empire
Duke Realty shells out nearly $100M for empty land in the Inland Empire
Preylock’s Brett Lipman and an Amazon warehouse at 12945 Ladera Drive NW in Albuquerque, New Mexico (Getty, Linkedin, Amazon.com, Inc./Public domain/via Wikimedia Commons)
LA investment firm Preylock scores $581M loan for Amazon-leased warehouses
LA investment firm Preylock scores $581M loan for Amazon-leased warehouses
Los Angeles County Assessor Jeff Prang (Los Angeles County Office of the Assessor, Getty Images)
Assessor: LA County property value hits record $1.9T
Assessor: LA County property value hits record $1.9T
Rexford's Howard Schwimmer and Michael Frankel with 6000 and 6027 Bandini Boulevard (Rexford Industrial Realty, Google Maps)
Mexican banking heir sells Commerce industrials to Rexford for $92M
Mexican banking heir sells Commerce industrials to Rexford for $92M
Prologis ceo Hamid Moghadam and DHL Supply Chain ceo Oscar de Bok with 5351 Jurupa Street (Prologis, Supply Chain Digital, Loopnet, Illustration by The Real Deal with Getty)
Prologis lease doubles Inland Empire footprint for supply chain firm
Prologis lease doubles Inland Empire footprint for supply chain firm
arrow_forward_ios

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

Loading...