The U.S. arm of a Chinese logistics company has inked a big lease for a warehouse in Santa Fe Springs.
Mega Lion will take 132,000 square feet at the 284-acre Golden Springs Business Center, Commercial Observer reported.
The company — a subsidiary of Shenzhen Hao Tong International Logistics — signed a five-year lease with Golden Springs Development at 13021 Leffingwell Road, according to the report.
The move is a major expansion for Mega Lion, which has a 50,000-square-foot facility in Bell. The lease 10,700 square feet of office space. The business center is about 300,000 square feet in total.
Steve Calhoun and Clyde Stauff with Colliers International represented landlord Golden Springs Development.
NAI Capital’s Ryan Campbell, who represented Mega Lion, said Santa Fe Springs and the surrounding submarkets “are essentially fully occupied when it comes to modern industrial buildings,” Commercial Observer reported.
Southern California’s industrial market is among the strongest in the country, and has remained solid throughout the pandemic, which has boosted the sector in the short-term from increased demand from e-commerce.
While some SoCal developers are pulling plans to develop retail, office, and other property types, a recent UCLA study found two-third interviewed said they are planning at least one new industrial development this year.
Part of the challenge for developers is finding suitable properties, with infill sites particularly sought after. Bridge Development filed plans earlier this month to build a 174,000-square-foot distribution center on an infill property outside Torrance. [CO] — Dennis Lynch