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Release Date: Wednesday, January 08, 2014
Media Contact: Evelyn Weiss Francisco (201) 796-7788
Firm Marketing Two R&D Spaces at Terreno Realty’s Garfield Business Center
COMMERCE, Calif., Jan. 8, 2014 – Super King Markets has committed to 64,000 square feet at Garfield Business Center in Commerce, announced Cushman & Wakefield. The commercial real estate services firm serves as exclusive leasing agent for the five-building, 545,000-square-foot industrial park, which is owned by Terreno Realty Corporation.
Super King Markets’ long-term lease at 3420 Garfield Ave. expands the company’s regional distribution operation, according to Cushman & Wakefield’s Jeff Sanita, who heads the Garfield Business Center leasing team with John McMillan out of the firm’s Los Angles South Bay office. The six-location grocery chain serves consumers in metropolitan Southern California.
“Garfield Business Center is a strategic distribution location, given its freeway proximity and onsite rail access,” Sanita said. “The property also is close to Super King Markets’ primary facility, which made it a logical choice.” He added that Terreno Realty Corporation’s timely communication and responsiveness helped expedite and secure the Super King Markets lease.
Terreno, a San Francisco-based REIT that acquires, owns and operates industrial real estate in major U.S. coastal markets, awarded the Garfield Business Center agency to Cushman & Wakefield last summer. Located at 3300-3430 Garfield Ave., the property is 97 percent leased to 14 tenants. The leasing team currently is marketing two remaining R&D units of approximately 13,500 and 2,500 square feet.
Occupants at Garfield Business Center have access to the aforementioned onsite rail service via a covered dock and sprinklered rail dock. Located in the heart of the Central Los Angeles submarket, the property offers direct access to the I-5, I-710 and I-605 freeways by way of Garfield Avenue and Bandini Boulevard.
Cushman & Wakefield’s industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2012, in the U.S. alone, this group completed more than 7,000 industrial real estate transactions – totaling 261 million square feet – with an aggregate value in excess of $8.43 billion.