A global aerospace distribution company has leased a new 115,000-square-foot warehouse in Commerce.
FDH Aero, based in El Segundo, will take up the entire Commerce Logistics Center at 5200 Sheila St., the Commercial Observer reported. Terms of the deal were not disclosed.
Link Logistics, a New York-based unit of Blackstone, just built the Class A industrial building this year, which includes a two-story office with 10,970 square feet of space.
John McMillan, Jeff Sanita, Danny Williams and Greg Stumm of Newmark represented Link Logistics in its lease to FDH Aero.
The distribution warehouse is at Washington and Atlantic Boulevards and the 710 Freeway in the industrial city southeast of Downtown Los Angeles.
During the first quarter of this year, five of the top 10 move-ins in the L.A. industrial market were at newly built space that was leased prior to delivery, according to Newmark’s research.
Combined, these leases totaled 932,262 square feet, or 67.2 percent of the quarter’s net absorption gain of 1.4 million square feet. New construction remains the most sought properties by tenants in an industrial market where vacancy is below 1 percent.
Last month, Penwood Real Estate bought a 230,000-square-foot building in Commerce for nearly $70 million, according to the Observer.
Earlier this year, Link Logistics teamed with Newport Beach-based Western Realco to buy a 16.45-acre industrial redevelopment site in Corona for $61.8 million, where they could build two Class A warehouses totaling more than 300,000 square feet.
[Commercial Observer] – Dana Bartholomew