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.