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SANTA FE SPRINGS, CA-Third-party logistics firm St. George Distribution Inc. will relocate to a 454,826-sf industrial building being developed at Golden Springs Business Park in what is believed to be the largest industrial lease this year in the Mid-Cities market. The firm will relocate its Torrance operations to 13300 Carmenita Rd. in the 10-year lease with landlord Thrifty Oil, according to David Kim and Associate Reid Wilbraham of Studley, who represented the logistics firm.

The move will be the first relocation for the logistics firm in more than 10 years, notes Kim, who points out that the expansion reflects the demand for distribution services as a result of increased import activity from Asian markets. The new St. George Warehouse will feature a controlled truck yard and six separate distribution points for loading and unloading.

The St. George lease includes both expansion and contraction rights for the company, which operates more than four million sf of warehouse space across the US. Its other major operation centers are located in Atlanta and Dallas.Thrifty Oil was represented by Clyde Stauff of Colliers Seeley International. Terms of the deal were undisclosed. Overall industrial space rates have been running about 48 cents per sf per month triple net on average, but rates for big box leases can vary considerably from the overall average.

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