Dietary supplement maker and product development innovator Lief Labs signed a 111,260 square foot industrial lease in Valencia and announced CBRE, a Dallas-based commercial real estate company.
Craig Peters and Sam Glendon of CBRE represented owner Rexford Industrial in this transaction. Ashland Pacific represented Reef Lab. Lief Labs has signed a long-term lease for the entire building located at 29025 – 29055 Avenue Paine, which is currently under construction and is expected to be completed by December 2021. Originally designed as a four-tenant property, Rexford has undergone minor interior modifications to meet Rexford’s specific needs.
Lief Labs, which started in 2008, is Inc. It has been recognized six times on the list of 5,000 fast growing and growing private companies. In 2018, Lief Labs leased an adjacent 112,000 square foot building at 28903 Paine Avenue, also owned by Rexford Industrial. The reef remains in space and the adjacent state-of-the-art facility serves as Reef’s primary operational center.
In 2018, Rexford Industrial also purchased a 47,000 square foot building on 28510 W. Industry Drive nearby. Since then, the two companies have forged a solid partnership.
Adel Villalovos, President and CEO of Reef, said, âLief Labs is the best company in the dietary supplement industry, and the facilities Rexford is building are best-in-class that will help Lief streamline operations and to maintain the growth of the company. over the next few years. “
Strong tenant demand for distribution space has boosted the Los Angeles industrial market for three consecutive quarters, with total activity exceeding 10 million square feet and the search for larger warehouses, according to a CBRE survey. It’s getting harder and harder.
âAt a time of peak demand, the industrial vacancy rate for large functional buildings in the North Los Angeles market is rapidly approaching 0%,â said Peters. Negotiations at the start of the construction process.
The result is a scenario that benefits both Rexford, Reef and Reef customers. ”
Strategically located distribution centers are essential to the success of retailers.
About the Seabee Group..
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Dallas. Is the world’s largest commercial real estate investment and services company (based on 2020 revenue). The company has more than 100,000 employees serving customers in more than 100 countries. CBRE serves a wide range of clients with an integrated suite of services such as facilities, commerce and project management. Asset Management; Investment management; Evaluation and evaluation; Real estate rent; Strategic advice ; Real estate sales ; Mortgage and development services. For more information, please visit: www.cbre.com..
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