CenterPoint inks Regan Group to big warehouse lease in Torrance

Industrial leasing remained strong in LA County in 2020

Los Angeles /
Dec.December 24, 2020 08:18 AM
CenterPoint Properties CEO Bob Chapman and the warehouse at 4180 190th Street in Torrance. (GI Partners, Google Maps)
CenterPoint Properties CEO Bob Chapman and the warehouse at 4180 190th Street in Torrance. (GI Partners, Google Maps)

No real estate sector has been bulletproof this year but the industrial market has shown the most resilience, with the surge in online orders leading to more logistics and warehouse leases.

In Southern California, where industrial has long been a bright spot, leasing remained strong in 2020. The latest example is a lease for 93,000 square feet at a Torrance warehouse, according to the Los Angeles Business Journal.

Landlord CenterPoint Properties Trust signed marketing and fulfillment company Regan Group to the deal at 4180 190th Street, according to the report. Regan Group had been subleasing nearly 30,000 square feet at the location. The new lease commits the company to the entire building.

Tyler Rollema and Matt Stringfellow of Klabin Company/Corfac International represented the Regan Group, while Newmark’s Barry Hill advised the landlord.

Illinois-based CenterPoint invests in industrial real estate across the U.S. Its holdings include 333 properties and 63 million square feet of space, according to its website.

Average asking rent for industrial space in the South Bay in the third quarter was 94 cents a foot. That’s about 6 cents higher than a year ago, the Business Journal reported, citing JLL figures.

In L.A. County overall, average industrial lease prices in the third quarter were up 2.2 percent year-over-year and vacancy was effectively flat.

Of the 10 largest industrial investment sales in L.A. County this year, .half involved institutional investors. Those included the Blackstone Group and Brentwood-based Rexford Industrial Realty, which acquired about $1 billion worth of warehouses in 2020.

[LABJ] — Alexi Friedman 


Related Articles

arrow_forward_ios
8201-8221 Woodley Avenue, Van Nuys and 3963 Workman Mill Road, Whittier (Google Maps)
Here are LA County’s biggest industrial sales of 2020
Here are LA County’s biggest industrial sales of 2020
Howard Schwimmer, Michael S. Frankel,a nd Howard Marks, with the property (Credit: NKF via Commercial Observer)
Rexford adds to massive industrial portfolio with $22M purchase
Rexford adds to massive industrial portfolio with $22M purchase
Robert Fordi, Steve Poulos, and Jeff Bezos, with the property (Credit: Google Maps and Emma McIntyre/Getty Images)
Future Amazon warehouse in Torrance sells at near record ppsf
Future Amazon warehouse in Torrance sells at near record ppsf
UCLA, USC survey: LA renters owe $3B in back rent
UCLA, USC survey: LA renters owe $3B in back rent
UCLA, USC survey: LA renters owe $3B in back rent
Submarkets near the ports accounted for 69.1 percent of total leases signed in Q2 2021 (Getty)
Nearly 10M sf of LA industrial space leased in Q2
Nearly 10M sf of LA industrial space leased in Q2
Plant Prefab CEO Steve Glenn (Plant Prefab)
Homebuilder Plant Prefab nabs Series B funding, eyes 3rd factory
Homebuilder Plant Prefab nabs Series B funding, eyes 3rd factory
Soleil Moon Frye and the property (Getty, The Society Group)
Soleil Moon Frye sells Hidden Hills home following price cuts
Soleil Moon Frye sells Hidden Hills home following price cuts
A U.S. District judge sentenced Patrick Joseph Soria to 12 years in prison (Getty)
“Skillful con man” sentenced for defrauding 2K homeowners
“Skillful con man” sentenced for defrauding 2K homeowners
arrow_forward_ios

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

Loading...