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Friday, Aug 12, 2022
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Industrial Building Leased Near Van Nuys Airport

A 28,000-square-foot warehouse at Van Nuys Airport Industrial Center has leased to an undisclosed West Los Angeles company for the storage of baby products.The Calabasas-based Newmark team of John DeGrinis, Patrick DuRoss and Jeff Abraham represented landlord Rexford Industrial Realty. Marc Bretter of Cresa represented the tenant.Financial terms of the lease were not disclosed.“We’re excited to get another lease signed representing Rexford Industrial at Van Nuys Airport Industrial Center,” Abraham said. “16333 Raymer Street was built in 2006, has 24-foot warehouse clear height and four-rear dock high doors. … With its location blocks away from the 405 freeway, we knew it would attract users from all over.”Before the lease was signed by the incoming tenant, the site had multiple offers, according to Abraham.“This is the ninth transaction we’ve completed with Rexford Industrial since they acquired the business park in December 2020,” Abraham said.According to Newmark data, the Central San Fernando Valley’s industrial sector currently has a vacancy rate of 0.3 percent.

“This particular submarket has been under 1 percent vacancy every quarter since Q1 of 2015,” Abraham added.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.
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