WESTCORE PROPERTIES SIGNS LEASE WITH O’NEILL LOGISITICS IN SANTA FE SPRINGS, CALIFORNIA
Five-Year Lease Signifies Continued Demand for Industrial Properties in Los Angeles Area
SANTA FE SPRINGS, Calif. – March 11, 2015 – As the demand for dynamic industrial space in Los Angeles continues, O’Neill Logistics LLC signed a five-year lease with Westcore Properties for its 288,000 square foot Hathaway Industrial Park property.
Located at 11811-11831 E. Florence Ave. in Santa Fe Springs, the Hathaway Industrial Park was built in 1984 and acquired by Westcore Properties in 2005. The lease is valued at nearly $6.7 million for the single-tenant property, which includes a private and secure yard, and ample parking space for truck trailers. O’Neill Logistics is a third-party logistics company specializing in apparel and consumer goods products.
“In the Los Angeles-area, we are noticing an increase in tenants requiring industrial space that complements their professional need to work efficiently,” said Don Ankeny, president and CEO at Westcore Properties. “This new lease supports that trend and our team was able to identify an ideal tenant for our space.”
In this transaction, O’Neill Logistics was represented by Dillon Dummit and Wayne Lamb, principals at Cresa Orange County. Westcore Properties was represented by brokers, Luke McDaniel, Cameron Driscoll and Zac Sakowski of Jones Lang LaSalle.