Amazon Signs 202K SF Distribution Lease in SoCal

CalSTRS acquired the property for $23.3M in 2018 and refurbished the site

reprints


Amazon is first for last-mile real estate. 

The ecommerce giant signed a lease to take over a 202,421-square-foot industrial building in Ventura County. Records show the California State Teachers Retirement System acquired the property at 6000 Condor Drive in Ventura County for $23.3 million in 2018, and renovated it.

SEE ALSO: Jon Olmstead Returns as Principal of Cresa in DC

DAUM Commercial announced the deal and represented the landlord Transwestern Development Company, but did not disclose the owner.

In the past year, Amazon has been as active as always, taking new delivery centers in Silicon Beach, the region west of L.A., Central California, and more. Last year, the company acquired the Orange County Register’s former printing location, and plans to replace it with a 112,485-square-foot last-mile distribution warehouse in Santa Ana.

Investment sales for industrial sites in the U.S. continue to show strong demand. CommercialEdge recorded $23.3 billion of industrial sales so far this year, putting 2021 on pace to surpass last year’s record of $45 billion in transactions.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com