DAUM Commercial Brokers $14.8 Million, Six-Year Industrial Sublease in La Mirada, CA

DAUM Commercial brokers six-year, $14.8 million sublease 
in this 254,700-SF  warehousing and distribution facility 
at 15300 Desman Road, La Mirada, CA

LA MIRADA, CA, July 30, 2020 – DAUM Commercial Real Estate Services recently secured a six-year sublease of a building in the Los Angeles County city of La Mirada, California on behalf of the sublessor, All-Ways Pacific LLC, for a total consideration of $14.8 million.

Wade Tift 

The new tenant, Orange Courier, a messenger, delivery, warehousing and distribution services company, is relocating from a nearby Orange County location. Orange Courier was represented by JLL, Wade Tift in the transaction

According to Nate Ortega, an Associate based out of DAUM’s Mid-Counties office, strategically utilizing this sublease option helped achieve the business objectives of both parties involved, even through the uncertainty caused by the COVID-19 pandemic.  

“Our Client, a major shipping and logistics operation, was consolidating multiple locations into a single, larger facility,” explains Ortega, who completed the sublease transaction alongside Casey Mungo, an Executive Vice President at DAUM.

Nate Ortega

“With several years left on their existing lease, they decided to sublease the property, and we were ultimately able to help them make a more seamless transition.”

Ortega notes that the Mid-Counties industrial submarket is one of the tightest, posting a 2.68% vacancy rate in Q2, according to a recent DAUM report.

Mungo adds: “While the sublessor had a rare facility in an ideal location, the market had come to a near stand-still following the pandemic declaration.

"Many tenants have been taking wait-and-see approach before making their next moves, if they are able.

"As a testament to our relationships in the market and the strength of this asset, we were able to consummate a deal with a sublessee who could see the larger picture.”

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Casey Mungo

 “This asset is located right at the border of Los Angeles and Orange counties near major thoroughfares including Interstate 5, State Route 91, and Beach Boulevard, providing the tenant convenient access throughout the region,” continues Ortega.

The Class A property features 41’ clear height, 43 dock high loading doors, one ground level loading door, ESFR sprinklers and two secured yards. 

CONTACTS:

Katie Haga / Elisabeth Manville  
Brower Group  
(949) 438-6262 
khaga@brower-group.com