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LOS ANGELES–A food company that once considered moving out of the area has instead decided to sign a $12.3-million lease to stay in Commerce.

Gruma Corp. had thought about relocating, but ultimately decided to renew for 200,000 sf of industrial space at 5505 and 5533 E. Olympic Blvd., which is within a few minutes’ drive of a half-dozen major freeways. The new lease also keeps Gruma’s 600 employees in the area.

The owner of the building is locally based Southern California Industrial Fund, which was represented in the transaction by Cushman & Wakefield. Brokers from Cushman & Wakefield also represented Gruma, along with the nearby office of Seeley Co.

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