Dynasty Shoes International plans to spend approximately $1 million in renovations before moving into the building to accommodate its burgeoning growth, according to Insignia/ESG's Brian Polkinghorne, Steve Solomon and Craig Meyer. Polkinghorne represented Dynasty Shoes, while Steve Solomon and Craig Meyer represented ATC Partners.

The new Dynasty building is in the South Bay industrial market, which is one of the largest in Los Angeles County, representing approximately 215 million sf of the more than 800 million sf of industrial space in Los Angeles County. The vacancy rate in that market has been running at slightly less than 5%, according to recent research reports. The South Bay market was one of the most active in the county during the economic boom of the late 1990s, but activity slowed there considerably in 2001. Brokers there say activity has increased of late.