Voyant Beauty Signs 180K SF in SoCal Leases With Rexford Industrial
By Nick Trombola August 27, 2024 4:51 pm
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Southern California is about to get a whole heckuva lot more beauty products in the months to come.
Chicago-based cosmetic products manufacturer Voyant Beauty has signed three long-term leases with Rexford Industrial Realty for a combined 180,000 square feet of warehouse space in Chatsworth, a neighborhood in Los Angeles’ San Fernando Valley. Specific terms of the leases at the property, dubbed Rexford Mason Business Center, were not immediately disclosed.
“We needed to prioritize operational efficiency,” Michael Partridge, head of operations for Voyant Beauty, said in a statement. “The new campus on Mason Avenue enables our team to condense most of our manufacturing to one site.”
Erica Balin and Scott Caswell of Lee & Associates represented Voyant in the deal. The manufacturer plans to move into the three-building complex, located at 9200-9250 Mason Avenue, in early 2025.
“Prior to the transaction, we realized that two adjacent sites at the center may soon be vacant,” Caswell said. “To secure Voyant Beauty’s access to such a prestigious campus, immediate action was crucial.”
Rexford also plans to renovate the complex, which was built between 1968 and 1980, according to Rexford’s website. Though specifics on the renovations were not immediately available.
Voyant’s leases in Chatsworth are just the latest in a string of industrial deals in the neighborhood lately — particularly in the cosmetics realm.
Fellow beauty manufacturer Neutraderm expanded its footprint in the area late last month with its $21 million purchase of 20680 Nordhoff Street, joining two other properties the company owns on the same block.
Further, a partnership between Center Capital Partners, Authentic Capital Group and TPG Angelo Gordon acquired a 150,000-square-foot, fully leased industrial building in the neighborhood for $41.5 million. That price is nearly double what sellers NBP Capital paid for the property back in 2017, per property records.
Nick Trombola can be reached at NTrombola@commercialobserver.com.
