In a significant move within the logistics and distribution sector, Lionext has secured a 10-year lease for a Class-A facility in Santa Fe Springs, valued at over $22 million.
The company signed for 106,000 square feet at 11650 Burke St., a location strategically positioned near the 605 Freeway, providing essential access for shipping operations.
The facility is equipped with 16 dock-high loading positions, two grade-level doors, and approximately 7,000 square feet of office space, enhancing operational efficiency.
Ryan Campbell, Executive Managing Director at NAI Capital Commercial, represented Lionext in this transaction, while the landlord, Kekropia Inc., was represented by Joel Hutak and Phillip De Rousse of Lee & Associates.
In related industry moves, Kidder Mathews has announced the hiring of David Mastro as Senior Vice President and Market Leader for their asset services division in Southern California.
With more than 35 years of experience in commercial real estate asset management, Mastro brings a wealth of expertise to the role.
He will oversee a portfolio exceeding 8.5 million square feet and aims to enhance the firm’s presence in the region.
Before joining Kidder Mathews, Mastro held leadership positions at LDKV Management and The Buzz Oates Group of Companies, where he managed portfolios as large as 11.5 million square feet.
In another notable development, Newmark has expanded its team by hiring former CBRE advisers Lex Yoo and Brent Koo.
Both will serve as Senior Managing Directors within Newmark’s newly formed South Korean Advisory Group, focusing on office and industrial leasing.
With a proven track record of over $1 billion in transactions, including advising high-profile clients like Samsung and Mirae Asset Securities & Investments, Yoo and Koo are expected to bolster Newmark’s advisory capabilities.
Yoo has taken residence in Newmark’s downtown LA office, while Koo will be based in Orange County.
On the sales front, there have been noteworthy transactions in the industrial real estate sector.
The Klabin Co./Corfac International facilitated the sale of a newly constructed 128,000-square-foot warehouse and distribution center at 1055 Sandhill Ave. in Carson for $52.5 million.
Frank Schulz and David Prior of The Klabin Co. represented the seller, Rexford Industrial Realty, while Ryan Campbell of NAI Capital acted on behalf of the buyer, Carson Warehouse Corp.
The buyer plans to convert a portion of the facility into cold storage, responding to market demand.
Interestingly, The Klabin Co. previously represented the prior owner during the 2020 sale to Rexford Industrial for just $14.5 million.
The redevelopment involved demolishing existing structures and constructing the new facility, which was completed in 2024.
In another acquisition, Dunleer has purchased an 18,000-square-foot multitenant industrial warehouse property at 3312-3314 and 3318 Burton Ave. in Burbank for approximately $5 million.
This acquisition price translates to about $283 per square foot.
The property, consisting of three units, had two units vacant at the time of sale and is adjacent to the Hollywood Burbank Airport.
Dunleer is planning several capital improvements, including property gating, enhancing perimeter fencing and lighting, and renovating the interiors of the vacant units.
Chad Gahr and David Young from NAI Capital Commercial represented Dunleer in this transaction, while Mike Maniscalchi of Systems Real Estate represented the seller, a local family whose name has not been disclosed.
In Perris, an undisclosed tenant has inked a substantial 804,000-square-foot industrial lease at Building 2 of the Rider Logistics Center, with a property located at 450 East Rider St.
The lease follows IDI Logistics’ development of the facility and was negotiated by Colliers Vice Chairs Mark Zorn and Cory Whitman, along with CBRE’s Vice Chairman Dan de la Paz and Senior Vice President Jeff Fritch.
In construction news, R.D. Olson Construction has completed the AC Hotel Pasadena, a 100,000-square-foot, $60 million Marriott property situated at 19 S. Madison Ave.
This hotel, featuring 194 guest rooms and a rooftop bar, represents a significant addition to Pasadena’s Playhouse Village, marking the second AC Hotel completion by R.D. Olson for Welcome Group Inc. within a brief 21-month period.
Additionally, C&C Development and Riverside Charitable Corp. have opened The Meadows Senior Apartments in Lake Forest, a 65-unit affordable housing community for seniors aged 62 and older.
Units range from approximately 600 to 800 square feet and comply with the Americans with Disabilities Act, ensuring accessibility for all residents.
In the financing arena, Affinius Capital has successfully closed a $148.5 million loan, refinancing 800 Broadway, a newly completed Class-A high-rise multifamily property in San Diego.
The property comprises 389 apartments along with nearly 5,000 square feet of commercial space.
This financing was arranged by a Northmarq team led by James Currell, marking another significant transaction in the evolving real estate landscape.
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