Made Goods furniture wholesaler inks giant lease in City of Industry

New HQ doubles footprint with 282K sf of space

TRD LOS ANGELES /
Sep.September 14, 2020 12:00 PM
Chris DeWitt, and the property (Credit: Google Maps)
Chris DeWitt, and the property (Credit: Google Maps)

Furniture wholesaler Made Goods is doubling its footprint with a big lease for a new corporate headquarters and warehouse in the City of Industry.

Landlord LBA Logistics inked the company to 282,000 square feet at 918 South Stimson Avenue, according to the Los Angeles Business journal.

Financial terms of the deal were not disclosed.

The 13-acre property is more than twice the size of Made Goods’ current facility — also in City of Industry — and allows the company to expand both its offices and its warehousing operation, according to the report.

Cushman & Wakefield’s Ty Newland represented Made Goods in the deal.

Marking materials from JLL dating to last year say the building, which is mostly industrial space, includes 15,000 square feet of office space.

The Southern California industrial market has remained relatively strong, faring far better than other property types throughout the pandemic. Most local developers expect demand to remain https://therealdeal.com/la/2020/07/30/socal-developers-say-demand-for-office-retail-space-will-continue-to-drop/ for industrial properties.

Overall office leasing, however, has been low in Los Angeles County amid the pandemic. From April through June, leasing transactions were around 60 percent to 70 percent below normal for the quarter, according to a CBRE report.

Meanwhile, 5 million square feet of sublease space went on the market in L.A. County in the second quarter, as transaction volume plummeted during the stay-at-home lockdown and difficult reopenings. [LABJ]Dennis Lynch


Related Articles

arrow_forward_ios
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
Michael Flood and the warehouse (Credit: Google Maps)

LA Food Banks pays $52M for warehouse, ending long search

LA Food Banks pays $52M for warehouse, ending long search
Brett Dedeaux and the property (Credit: Dedeaux Properties and DB&R Marketing Communications via Commercial Observer)

Dedeaux, Stockbridge boost industrial portfolio

Dedeaux, Stockbridge boost industrial portfolio
(iStock)

SoCal developers say demand for office, retail space will continue to drop

SoCal developers say demand for office, retail space will continue to drop
Aerial of inland empire industrial areas (Credit: CBRE via OBSERVER MEDIA)

The Inland Empire’s booming logistics industry is a double-edge sword

The Inland Empire’s booming logistics industry is a double-edge sword
Brookfield Asset Management CEO Bruce Flatt and Woodridge CEO Michael Rosenfeld with 101 S. Marengo Avenue, and a rendering of the building (Credit: Google Maps)

CRE investment sales in LA sank like a stone in May

CRE investment sales in LA sank like a stone in May
Jeff Bezos and the IAC Commerce Center (Credit: Phillip Faraone/Getty Images and IAC Commerce Center)

Amazon expands LA footprint with big warehouse lease

Amazon expands LA footprint with big warehouse lease
arrow_forward_ios

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

Loading...