Pacific Expressway signs full building lease in South Bay-LA market
Cushman & Wakefield announced that Pacific Expressway, Inc. a family owned and operated trucking company, has leased a 111,000-square-foot cross-dock/distribution facility in Compton, California. Owned by PGIM Real Estate, the freestanding building is located at 220 W. Victoria St in the Los Angeles-South Bay market.
Rusty Smith and Steve Bohannon with Cushman & Wakefield’s LA-South Bay office represented the landlord in the transaction.
“This lease demonstrates the robust demand we continue to see for industrial and logistics product in the South Bay, a location providing convenient access to a large population, extensive freeway network, two of the world’s busiest ports, and major airports,” said Rusty Smith, Executive Director.
220 W Victoria features drive-around access, dock and grade loading, 24-foot clear height, and 14,652-sf of office space. The location is just off Highways 91 and 47 and near Interstates 710, 405 and 110. The building is a direct highway line to the Ports of Long Beach and Los Angeles and proximate to the Los Angeles International and Long Beach airports.
According to Cushman & Wakefield, industrial vacancy in the Los Angeles-South Bay submarket, which includes Compton, was a mere 1.3% at year-end 2022, with 3.4 million square feet of annual occupancy growth achieved during the year.