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Rexford Leases Simi Valley Warehouse in $13.9 Million Deal

Snyder-Diamond Corp., a distributor of kitchen appliances and bathroom fixtures, has signed a $13.9 million lease for a 76,000-square-foot building in Simi Valley. 

Snyder-Diamond Corp., a distributor of kitchen appliances and bathroom fixtures, has signed a $13.9 million lease for a 76,000-square-foot building in Simi Valley.

The property at 2390 Ward Ave. includes 6,600 square feet of dedicated office space and is owned by Rexford Industrial Realty Inc.

The Lee & Associates LA North/Ventura brokerage team of Scott Caswell and Erica Balin represented landlord Rexford. Snyder-Diamond was represented by Ron Feder of Peak Commercial in the 10-year lease.

“The same dynamics that are driving the market for Snyder-Diamond products are fueling unprecedented demand for the market’s limited supply of industrial space. This property’s location allows for expanded distribution capabilities that support their long-term growth in the Southern California region,” said Caswell in a statement.

The space was on the market for short time — about 30 days.

According to Lee & Associates data, the Simi Valley/Moorpark submarket ended the first quarter with 162,127 square feet of vacant industrial space and a 1.2 percent vacancy rate.

 

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.
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