California + Los Angeles + Industrial | May 2, 2023

Energy Firm Signs Ground Lease, Acquires Adjacent Site

Commerce Energy Storage, LLC has signed a long-term ground lease for a 50,073-square-foot building located on 4.78 acres at 6920 E. Slauson Avenue in Commerce. Additionally, the firm acquired an adjacent site of 2.23 acres located at 6904 E. Slauson Ave. The company will work to develop warehouses on both sites that will house its vaults of batteries that store power for customers.

JLL’s Jon Reno, Mark Vanis, Trevor Gale and Sage Segal represented all parties in both transactions.

“With strong fundamentals for industrial space in the Los Angeles area, owner-users and investors are looking to redevelop older/obsolete buildings and sites,” said Gale. “These transactions are an excellent example of utilization of two industrial outdoor storage (IOS) sites (one being environmentally impacted) for something other than vehicles/truck/container storage or raw material storage that contributes to the ESG/carbon neutral movement.”

Don’t miss Connect LA on May 3 at the Hotel Indigo. Connect in person with California CRE experts like Rising Realty Partners EVP Kayce Hawk.

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Inside The Story

JLL's Gale

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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