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EL SEGUNDO, CA-Taking advantage of the availability of formerly occupied technology space now on the market, Target Corp. has signed a five-year, $1-million lease for a 24,000-sf building that will serve as an auxiliary warehouse.

Brad Levin of Daum Commercial Real Estate Services South Bay office reports that Target will move into the building in the coming days. The facility is near the Los Angeles Lakers and Los Angeles Kings training complex at 2045 E. Mariposa St. Levin says Target will operate the facility as a warehouse to support its store in nearby Manhattan Beach.

Levin represented Nissenson Realty Investments, the locally based building owner. Colin Foutz.of NAI Capital Commercial’s Encino office negotiated on Target’s behalf.

Target’s new facility is a concrete tilt-up structure featuring 2,500 sf of office space, dock-high and ground-level loading, generous yard area, and 60-vehicle on-site parking. The building is close to major facilities for Mattel, Northrop Grumman and Raytheon.

Levin says the new Target building, once occupied by a computer-related firm, is one of numerous high-quality buildings vacant in the El Segundo market in the wake of the dot-com technology downturn and corporate consolidations.

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