LOS ANGELES—99-Cent Only Stores has signed the year’s largest infill industrial lease in Los Angeles County. The discount retailer signed a lease with KTR Capital Partners for a 615,000-square-foot space at Garfield Corporate Center. 99-Cent Only will use the facility as its corporate headquarters. Located at 6100 Garfield Avenue in Commerce, the facility sits on 27.5 acres.
The facility is still under construction with completion planned for the second quarter 2014. Once complete, it will be the largest freestanding industrial development in the Los Angeles market. The property is ripe with class-A amenities including an ESFR sprinkler system and cross-dock configuration. It has 185-foot plus truck court and a 36-foot clearance height with 109 dock high loading positions. Additionally, the site comes with 430 parking stalls for employees. 99-Cent Only plans to use the facility as a distribution center to work with the other warehouse facilities it has in Commerce.
In addition to signing the lease, the retailer plans to add an additional 30,000 square feet of executive office space. The office will house 300 of 99-Cent Only Stores employees. CBRE‘s John Privett, EVP, Cameron Merrill, first VP, and Richard Rizika, EVP, represented the tenant in the transaction. JLL‘s team of Barry Hill, Paul Sablock, Tim O’Rourke, Mike Fowler and Zac Sakowski represented the KTR Capital Partners.
Big box facilities continue to be in high demand throughout the Southern California region. Goodman Birtcher recently broke ground on a $146 million, 1.6-million-square-foot facility in the Inland Empire West city of Rancho Cucamonga. The facility is one of five the developer is planning for the Southern California market.