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Montebello Warehouse Will Serve as Tenant’s First U.S. “Last Mile” Facility
DAUM Commercial Real Estate Services completed the lease of a 2.2-acre industrial property with a 54,648 square-foot freestanding Class A logistics facility at 1215 E. Washington Blvd. in Montebello. The total consideration for the building’s five-year lease was $6 million.
EVP Dennis Sandoval represented the lessor, a Toronto-based real estate investor and long-term DAUM client. The lessee was represented by Kun Li of Harvest Realty.
“The industrial market in Los Angeles County seems to be slowly coming out of the doldrums caused by wider economic challenges, and this transaction demonstrates the current opportunity for industrial owners,” said Sandoval. “The lessee is setting up its first ‘last mile’ distribution center in the U.S., with the expectation of adding more across the country. With vacancies at multi-year highs, growing companies with expansion plans are prime targets for in-fill leases at well-located properties like this one.”
- ◦Lease
