Simi Valley, CA – Lee & Associates – LA North/Ventura Principals Scott Caswell and Erica Balin have closed a $15.6 million lease transaction on behalf of River Plate Corporation, an end-to-end warehousing and distribution center located in Simi Valley, CA. Located at 2950 Madera Road, Caswell and Balin represented the tenant for the approximately 136,000 SF structure; the landlord is Rexford Industrial.
“The Simi Valley and surrounding areas remain an excellent location for companies in the warehousing and fulfillment center market,” emphasized Caswell in making the announcement. “These locations offer easy access, plenty of parking, and well-designed warehousing space that – given the expansion of the e-commerce market – is critical for ecommerce companies. As a result, there is a strong need for these types of facilities.”
The property is located just off the 118 freeway, a major transportation artery in the area. In addition, it has 13’ dock high doors and can expand to 25’ dock high doors if needed.
“Scott and I have worked closely with River Plate over the years and when their sublease was coming to end, we were engaged to evaluate suitable facility options for their operation. As part of the process, we were able to hold discussions with the Master Lessor of the property and come to mutually beneficial terms versus a move,” said Balin. “The tenant had been subleasing the location now for several years. When they began to consider moving options, they opted to engage us to negotiate a direct lease to secure the space,” said Balin.
About Lee & Associates – LA North/Ventura, Inc.
Lee & Associates offers an array of real estate services tailored to meet the needs of the company’s clients, including commercial real estate brokerage, integrated services, and construction services. Established in 1979, Lee & Associates is now an international firm with 70+ offices throughout the United States and Canada. Our 1,300 professionals regularly collaborate to make sure they are providing their clients with the most advanced, up-to-date market technology and information.
