Used clothing firm Rags R Us will relocate from the City of Industry into 53,313 sf at 7000 Slauson Ave. after signing a three-year lease with building owner, 7000 E. Slauson Avenue Co. of Commerce. The transaction is valued at $647,000, according to John McMillan and Jeff Sanita of the Commerce office of Cushman &Wakefield. McMillan and Sanita represented tenant and building owner in the deal making.
The C&W brokers also represented the building owner, Korea-based Sungjin Plastics America Inc., in a 37-month lease for the remaining 16,003 sf in the 40-year-old concrete tilt-up building. That lease is valued at $265,000.
Sungjin manufactures molded plastic products, including the five-gallon water bottles commonly used in home delivery. It will be relocating its North American warehouse and distribution facility from Downtown Los Angeles. Eric Reavis of locally based Reavis Realty Corp. represented the plastics manufacturer.
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