HHM International has inked a deal to sublease an 82,200-square-foot truck storage yard in Gardena.
The Signal Hill-based transportation and logistics firm subleased the transportation yard at 14521 Avalon Boulevard, the Commercial Observer reported.
The four-year sublease from Long Beach-based Corridor Recycling is valued at $4 million.
The 1.9-acre yard, about 15 miles north of the ports of Long Beach and Los Angeles, is owned by JD Rush, based in Shafter, northwest of Bakersfield.
Brokers Tyler Rollema and Matt Stringfellow of The Kabin Company represented the family-owned HHM International on the sublease. Broker Guy LaFerrara at Lee & Associates’ Irvine office represented Corridor Recycling.
Southern California continues to see the nation’s highest rent increases on industrial buildings, according to the Observer.
Year-over-year industrial rents in August grew 19.2 percent in the Inland Empire, 11.8 percent in Los Angeles County and 10.5 percent in Orange County, according to the most recent industrial market report by CommercialEdge.
— Dana Bartholomew
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