Fashion Nova Expands L.A. Footprint With 133K-SF Warehouse Deal

Fashion Nova is expanding its Southern California logistics side with another industrial lease in Santa Fe Springs.

The Los Angeles-based fast-fashion retailer signed a lease to take over the 132,888-square-foot warehouse at 12301 Hawkins Street, according to CoStar. It increases Fashion Nova’s warehouse footprint in Santa Fe Springs by about 33 percent.

New York-based real estate investment manager Clarion Partners owns the property in the Heritage Springs Business Park. It includes 12,004 square feet of office space on a 5.4-acre site, according to a JLL marketing brochure. The recently renovated facility features 30-foot clear heights, 18 dock-high doors, two ground-level doors and 175 parking spaces.

The owner did not immediately respond to a request for comment.

The deal adds to leasing momentum picking up across L.A. County’s industrial market. Leasing activity reached 15.7 million square feet during the second quarter, up 40 percent compared to last year, according to CBRE. The market also posted 2.8 million square feet of positive net absorption — its third consecutive positive quarter after 10 straight quarters of negative absorption.

Vacancy declined 22 basis points since the first quarter to 5 percent, although landlords continue to face falling rents. Average asking rents dropped to $1.19 per square foot per month, down 7 percent from a year prior, and down 32.4 percent from the second quarter of 2023.

The Mid-Counties submarket, which includes Santa Fe Springs, recorded 1.1 million square feet of positive absorption during the quarter and an average asking rate of $1.23 per square foot.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.