Lionext Leases Santa Fe Springs Warehouse for $22 Million

Lionext, a third-party logistics provider, has signed a 10-year lease for a 106,000-square-foot distribution center at 11650 Burke Street in Santa Fe Springs.

The lease, with a total value of more than $22 million, covers a Class A industrial building with 7,000 square feet of office space, 32-foot clear height, 16 dock-high doors, two grade-level doors, skylights and a 200-foot shared concrete truck court, according to L.A. Business First. The facility also features a fenced yard with drive-around truck access.

The property is near the 605 freeway in the Mid-Cities region, an area along the border of Los Angeles and Orange counties popular with logistics, warehouse and shipping companies because of easy access to the ports of Los Angeles and Long Beach. The industrial region also includes Cerritos, Downey, Whittier, La Mirada and Norwalk.

NAI Capital’s Ryan Campbell represented Lionext, headquartered in Santa Fe Springs, in the deal. Joel Hutak and Phillip De Rousse of Lee & Associates worked on behalf of the landlord, Kekropia.

Innovative Operations Solutions signed on as a tenant in the building in third-quarter 2018 for 106,110 square feet, according to a Lee & Associates industrial market report from the time.

Also on the industrial real estate front, Rexford Industrial Realty, a major warehouse landlord in Southern California, recently sold a 102,300-square-foot industrial building in Lake Forest for $50.9 million.

The Sawtelle-based real estate investment trust traded the two-story building at 20 Icon, in Foothill Ranch, the Los Angeles Times reported, citing a regulatory filing. The buyer was undisclosed.

Rexford is working on the redevelopment of a site it purchased in 2023 near LAX, L.A. Business First reported.

The industrial-focused REIT bought the 18-acre of a Hertz lot at 9000 Airport Boulevard for $143 million in a sale-leaseback deal.

— Joel Russell