Fulfillment Business Turns Simi Valley Sublease into Direct Lease

Lee & Associates – LA North/Ventura principals Scott Caswell and Erica Balin closed a full-building lease transaction on behalf of River Plate Corporation, an end-to-end warehousing and distribution center located in Simi Valley. Caswell and Balin represented the tenant in the $15.6-million lease of the approximately 136,000-square-foot structure at 2950 Madera Rd.; the landlord is Rexford Industrial. 

“The tenant had been subleasing the location now for several years,” said Balin. “When they began to consider moving options, they opted to engage us to negotiate a direct lease to secure the space.”

The property is located near the 118 freeway, a major transportation artery in the area. In addition, it has 13’ dock high doors and can expand to 25’ dock high doors if needed. 

Caswell said, “The Simi Valley and surrounding areas remain an excellent location for companies in the warehousing and fulfillment center market. These locations offer easy access, plenty of parking, and well-designed warehousing space that – given the expansion of the e-commerce market – is critical for e-commerce companies. As a result, there is a strong need for these types of facilities.”