Made Goods’ New LA County Headquarters is 282K SF in the City of Industry
The recently renovated property is more than twice the size of the company’s previous base
By Greg Cornfield September 14, 2020 5:30 pm
reprints
Made Goods is moving its headquarters about 1.5 miles in Los Angeles County’s City of Industry to a recently renovated industrial building that spans 282,000 square feet.
The wholesale furniture manufacturer signed a long-term lease to take over the building at 918 South Stimson Avenue in the San Gabriel Valley, about 17 miles east of Downtown L.A. It will serve as the brand’s new corporate headquarters and house its warehousing and distribution operations.
The building is owned by LBA Logistics, which acquired it in 2016 in a $31.73 million deal, property records show. PGIM provided $25.81 million in financing for the property in December 2019.
The terms of the lease were not disclosed but a source familiar with the deal said it’s at least a 10-year lease. The property is more than double the size of Made Goods’ previous 128,800-square-foot location nearby on Turnbull Canyon Road.
Cushman & Wakefield (CWK)’s Ty Newland represented the tenant, and the brokerage announced the lease.
“Made Goods’ lease expansion exemplifies the resilience of the industrial sector in Southern California, while also reflecting the recent trend of consumers buying home goods and furniture as they reinvest in their homes during this pandemic,” Newland said in a press release. “Another driver for the uptick in demand we’re seeing by furniture companies is the trend of people moving into larger suburban homes that need to be furnished.”
Chris DeWitt and Oscar Yague co-founded Made Goods, and its parent company is Ardmore Home Design. In 2019, Made Goods opened a new retail showroom in West Hollywood, and its other showrooms are in Atlanta, Dallas, New York and Chicago.
Overall, L.A. County has been the nation’s hottest market for industrial real estate with the unabated rise in e-commerce fueling a demand for third-party logistics in warehouses and last-mile distribution centers. The City of Industry spans about 12 square miles, most of which is zoned for industrial use, which boasts a 2.2 percent vacancy rate.
In August, L.A. Regional Food Bank acquired a 255,900-square-foot building in the City of Industry for $52.1 million, and last November, a collectibles store took over a 116,000-square-foot property nearby.
