LOS ANGELES-UMA Enterprises, a wholesaler in the home furnishings industry, leases 234,600 square feet from AMB Property Corp. at 601 Carob St. The property is called AMB/NDP Distribution Center, and UMA Enterprises plans to consolidate its operations in the new facility, which is located in the South Bay submarket of the Los Angeles area.
“In today’s highly competitive market, it’s critical that we attract new customers of this quality in order to grow our existing portfolio,” says Kim Snyder, AMB’s managing director of the West Region. With the addition of UMA, the facility is now 100% leased.
“This location is ideal for us,” says Naval Bansal, president and CEO of UMA Enterprises. “We’ve done business in the past with AMB, which made this deal very attractive. They have a well-deserved reputation for being flexible and taking excellent care of their customers.”
An AMB source tells GlobeSt.com that the length of the lease is five years, but could not provide financial terms. As of March 31, 2010, AMB's portfolio in the Los Angeles area totaled more than 22.6 million square feet of operating and development facilities.
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