PICO RIVERA, CA—After an extensive search by Colliers International for a port-accessible industrial site, Barrett Distribution Centers has leased a 111,384-square-foot industrial building in Pico Rivera in a transaction valued at more than $3 million. Term of the lease is 63 months.
Built in 2000 and located at 8700 Rex Road, the concrete tilt-up structure, features 28 dock-high loading doors with 30-foot clearances and ESFR fire sprinklers, and is part of a larger industrial park owned by Majestic/AMB Pico Rivera Associates LLC.
Colliers' associate VP Chuck Littell, along with EVP Scott Heaton and senior VP Casey Ricksen, represented Barrett in the transaction. Majestic represented itself.
Founded in 1941 in Boston, Massachusetts, Barrett is one of the nation's most respected and innovative third-party logistics firms. Family-owned for 72 years, Barrett has grown into a network of more than 2.5 million square feet of state-of-the-art fulfillment operations.
“This newest location in Pico Rivera expands our footprint and service offering in the LA/Long Beach market, and allows users of our network to take advantage of additional capacity in this strategic market,” said COO Tim Barrett. “This facility will enable more clients to leverage our multi-market capability, and set up strategic shipping points from our Los Angeles/Long Beach, Memphis, and New Jersey hubs.”
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