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Industrial strength. (Real Estate).


Demand for newly constructed Torrance industrial buildings remains strong.

Over the last three months, Los Angeles-based Investment Development Services has signed three leases totaling 186,000 square feet at its newly built Hamilton/Vermont Distribution Center in Torrance. The deals, which totaled $10.2 million, completed the lease-up of the two-building, 231,000-square-foot complex, which was completed during the third quarter of last year.

Panalpina Airfreight air·freight  
n.
1. A system of transporting freight by air.

2. The amount charged for transporting freight by air.



air
, Jardine Logistics and UPS-affiliate Fritz fritz  
n. Informal
A condition in which something does not work properly: Our television is on the fritz.



[Perhaps from German Fritz
 Companies took spaces of 81,500, 42,000 and 62,000 square feet, respectively. Panalpina and Jardine signed seven-year deals while Fritz's lease was for five years.

The lease deals illustrate how Torrance's newly-built industrial structures, which are designed with wider docking space and larger truck yards than older buildings, are drawing more logistics companies, according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 John Schumacher, senior vice president at CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. .

"The closest market that provides new construction to LAX is Torrance," said Schumacher, who represented Investment Development Services on all three deals. "For the South Bay industrial market, one of the few consistent parts of our market was airport users moving out of the immediate area to state-of-the art facilities."

In December, GeoLogistics leased 177,000 square feet at ProLogis Park at 19600 Van Ness Van Ness may refer to:

People

  • Cornelius P. Van Ness, Vermont governor, judge and U.S. diplomat
  • Frederick Van Ness Bradley, a U.S. Representative from Michigan
  • George Van Ness Lothrop, a Michigan politician
  • James Van Ness, son of Cornelius P.
 Ave. Other Torrance airfreight deals in the last few months include ABX ABX Antibiotics
ABX Airborne Express
ABX Abstracting
ABX Albury, New South Wales, Australia - Albury (Airport Code)
ABX Automatic Branch Exchange
ABx Non-Antibiotics
ABX Asset Backed Securities Index
ABX Acoustic Bass Extension
 Logistics' 42,000 square-foot lease and AirPlus Logistics 26,000-square-foot deal.
COPYRIGHT 2002 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:demand for Torrance industrial buildings is strong
Comment:Industrial strength. (Real Estate).(demand for Torrance industrial buildings is strong)
Author:King, Danny
Publication:Los Angeles Business Journal
Article Type:Brief Article
Geographic Code:1USA
Date:Mar 11, 2002
Words:225
Previous Article:Atrium project leasing in tough El Segundo market. (Real Estate).(Brief Article)
Next Article:Close to home. (Real Estate).(two Los Angeles Unified School District mini-distrcits prepare to move offices)(Brief Article)
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