 |
| Lukas Huberman |
“This
new lease highlights BLT’s ability to quickly execute our business strategy
following a unique buying opportunity,” says Lukas Huberman, Vice
President and Director of Acquisitions.
“Outdoor
storage in the Los Angeles County industrial corridor is a premium amenity. The
site’s 28% coverage made it highly desirable for fleet vehicle storage, as well
as additional warehouse space for the incoming tenant.”
BLT
secured a 10-year lease with Cintas Uniform Rental, which also operates out of
a directly adjacent commercial property on Paramount Boulevard. Cintas was
especially interested in the site given the ample storage space for its
delivery vehicle fleet.
A 10,200 square foot warehouse.leased at
7748 Industry Avenue, Pico Rivera, CA
Prior to tenant occupancy, BLT implemented value-add improvements to the property with a new roof, updated HVAC system, new asphalt on the entire lot, and repainted the building interior and exterior.
The building
includes over 8,000 square feet of warehouse space and 2,000 square feet of
office space. The warehouse has two loading docks, as well as one drive in
entrance and a 15-foot ceiling height. The site is fully fenced and secured
with a gated entrance.
7748
Industry Avenue is a prime example of BLT’s investment strategy of acquiring
well located assets that meet the escalating transportation and logistics
demands throughout Southern California, notes Rob Solomon, President and
Chief Legal Officer at BLT Enterprises.
Rob Solomon
“Since acquiring the property in September of 2022, we quickly executed our business plan to improve the asset and closed on the new lease despite increasing current market challenges,” continues Solomon.
“We
understand the value of properties like 7748 Industry. The combination of
warehouse, office, and extra yard space made this site highly desirable.
Drawing on our deep-rooted knowledge of the Los Angeles market, we were able to
negotiate a mutually beneficial agreement with the tenant and secure a long-term
business relationship.”
BLT
Enterprises was represented in the leasing transaction by Alexander Harroldand
Brendan Phinney of Matthews Real Estate Investment Services.
Contacts:
Hanna
Kokuashvili/Elisabeth Manville
(949)
438-6262
No comments:
Post a Comment