CARSON, CA-Logistics provider Calko has leased 135,727 square feet from Watson Land Co. here in one of the three deals signed by three industrial tenants in three different locations. The others include a 295,000-square-foot lease in Vista and a 116,100-square-foot sublease in Rancho Dominguez.
In the Calko lease, the tenant signed for five years at the 135,727-square-foot industrial property on approximately 10 acres at 720 Watsoncenter Rd. in the master-planned Watson Industrial Center. The building will serve as the third-party-logistics provider’s new corporate headquarters as it relocates from Compton.
Calko's new facility features expanded trailer storage capacity and flexibility to accommodate growing inventories, according to an announcement from Watson Land, which notes that the company has secured 1.1 million square feet of new leases within its South Bay portfolio in since January 2011, and that leasing has spiked in response to a sustained increase in inbound port volume.
Don Smith of Lee & Associates and Kent Choi of NAI Capital represented Calko in the transaction. Watson Land Co. was represented in-house by Lance Ryan and Mike Bodlovich. Terms of the transaction were not disclosed. Average asking lease rates for all industrial space in the South Bay in the second quarter was 54 cents per square foot per month, triple-net, according to the latest quarterly market report by CB Richard Ellis.
In the Vista lease, Zodiac Pool Systems signed for 295,000 square feet of industrial and manufacturing facilities that included a lease renewal of the pool supplier’s 191,264-square-foot facility at 2620 Commerce Way and an expansion to an additional 104,832 square feet at 2611 Commerce Way. SVPs J.R. Williamson and David Knowlton with NAI Capital’s Orange County office and Roberto Perez and Greg Apter of Hilco Real Estate represented Zodiac in the lease renewal with GRE Commerce Way LP. The team also represented Zodiac in its expansion with Northern County Industrial Park LP. Terms of the leases were not disclosed.
In the Rancho Dominguez deal, FXI Inc. subleased the 116,100 square feet at 19119 S. Reyes Ave. from HayTech LLC. VP Bill Griebenow of NAI Capital’s South Bay office negotiated the sublease of the facility on behalf of FXI. Sublessor HayTech, a company that compresses and exports hay, was represented by Casey Mungo with DAUM Commercial. The 23.5-month lease is valued at approximately $1.2 million.
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