Dietary supplement manufacturer and product development innovator Lief Labs has signed a 111,260 sq ft industrial lease in Valencia and announced CBRE, a Dallas-based commercial real estate company.
CBRE’s Craig Peters and Sam Glendon represented the landlord Rexford Industrial in this deal. Ashland Pacific represented Reef Lab. Lief Labs has signed a long-term lease for the entire building at 29025 – 29055 Avenue Paine, which is currently under construction and is expected to be completed by December 2021. Originally designed as a four-tenant property, Rexford has minor interior changes to meet the specific needs of Rexford.
Lief Labs, which started its business in 2008, is Inc. It has been recognized six times on the list of 5,000 fast-growing private companies and is expanding rapidly. In 2018, Lief Labs leased an adjacent 112,000-square-foot building on 28903 Avenue Paine, also owned by Rexford Industrial. The reef remains in space and the adjacent state-of-the-art facility serves as Reef’s primary operational hub.
In 2018, Rexford Industrial also purchased a 47,000-square-foot building on nearby 28510 W. Industry Drive. Since then, the two companies have built a strong partnership.
Adel Villalovos, President and Chief Executive Officer of Reef, said: “Lief Labs is the best business in the dietary supplement industry, and the facilities Rexford is building are best-in-class facilities that will help Lief streamline operations and keep the business growing over the next few years.”
According to a CBRE survey, strong tenant demand for distribution space has driven the Los Angeles industrial market for three consecutive quarters, with total activity exceeding 10 million square feet, and finding larger warehouses. It’s getting harder and harder.
“At a time when demand was at its highest ever, the industrial vacancy rate for functional large buildings in the North Los Angeles market is rapidly approaching 0%,” said Peters. Negotiations early in the construction process.
The result is a scenario that benefits both Rexford, Reef, and Reef customers. ”
Strategically located distribution centers are critical to the success of retailers.
About the Seabee Group..
CBRE Group, Inc., a Fortune 500 and S & P 500 company headquartered in Dallas. Is the world’s largest commercial real estate services and investment company (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a wide range of clients with an integrated suite of services such as facilities, trading and project management. Asset Management; Investment Management; Valuation and Valuation; Real Estate Rent; Strategic Consulting; Real Estate Sales; Mortgage Services and Development Services. For more information, please visit: www.cbre.com..
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