400,000SF Industrial Space Hits Market

COMMERCE, CA-The Randolph Business Center, an industrial distribution facility, has come onto the market. Listed by Cushman & Wakefield, the 400,169-square-foot facility, located at 5959 Randolph Street in Commerce, CA, sits on 16.5 acres in a prime industrial submarket with a 3.7% vacancy rate, making it one of the leading industrial markets in the nation.

The facility is 100%-net-leased, and currently occupied by OnTrac, a major regional shipping provider that uses the space as one of its primary West Coast facilities. Although the list price was not released, Cushman & Wakefield anticipates the sale will set a pricing standard in the market. 

Originally a joint venture development from Western Realco and CIGNA, the class-A property has an oversized secure yard, drive-around access and a 30-foot clear height. In addition to a location in an active industrial submarket, the property in also located 15 miles from the Los Angeles and Long Beach Ports and has direct access to the 710 and 5 freeways.

In a recent story reported by GlobeSt.com, CBRE research shows that Southern California industrial development is at record levels since the recent 2008 recession. Overall, Los Angeles has a 2.4% industrial vacancy rate and 3.2 million square feet under construction. The report shows that demand in Los Angeles and Southern California in general has a growing industrial demand, especially for large and mid-sized buildings.