This Week's LA Deal Sheet: Logistics Company Signs $22M Lease In Santa Fe Springs

Shipping and distribution company Lionext signed a 10-year lease for 106K SF at 11650 Burke St. in Santa Fe Springs. The lease is valued at more than $22M, according to a release from NAI Capital Commercial, which represented the tenant. 

The Class-A facility offers 16 dock-high positions, two grade-level doors, approximately 7K SF of office space and drive-around truck access. Built in 2011, the property is also close to the 605 Freeway, giving it the access necessary for logistics and distribution.

NAI Capital Commercial Executive Managing Director Ryan Campbell represented Lionext Inc. in the transaction. The landlord, Kekropia Inc., was represented by Joel Hutak and Phillip De Rousse of Lee & Associates. 

PEOPLE

Kidder Mathews has hired David Mastro as senior vice president and market leader for the firm’s asset services division in Southern California.  

Mastro brings more than 35 years of experience in commercial real estate asset management and operations to his new role. Mastro will oversee a portfolio of more than 8.5M SF and work to expand the firm’s regional presence. 

Prior to joining Kidder Mathews, Mastro held leadership positions at LDKV Management and The Buzz Oates Group of Cos., where he oversaw portfolios of up to 11.5M SF. 

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Newmark has hired Lex Yoo and Brent Koo, two former CBRE advisers with track records advising multinational occupiers and investors throughout the U.S. 

Yoo and Koo join Newmark as senior managing directors and will be part of the company’s newly formed South Korean Advisory Group with a focus on office and industrial leasing and sales.

Yoo and Koo have executed more than $1B in transactions and advised clients such as Samsung, Mirae Asset Securities & Investments and Daehan Steel America. Yoo will be based in Newmark’s downtown LA office, while Koo will be based in Orange County.

SALES

The Klabin Co./Corfac International brokered the $52.5M sale of a newly constructed single-tenant 128K SF warehouse and distribution center at 1055 Sandhill Ave. in Carson. 

The Klabin Co.’s Frank Schulz and David Prior represented the seller, Rexford Industrial Realty. Ryan Campbell of NAI Capital represented the buyer, Carson Warehouse Corp., which plans to convert a significant portion of the facility into cold storage.

The Klabin Co. represented the prior owner of the property in the 2020 sale to Rexford Industrial for $14.5M. Rexford demolished the existing buildings and developed the new facility, which was completed in 2024.

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Dunleer acquired a two-building, 18K SF multitenant industrial warehouse property at 3312-3314 and 3318 Burton Ave. in Burbank. Dunleer paid approximately $5M, or $283 per SF. The property has three units, two of which were vacant at the time of sale, and is adjacent to the Hollywood Burbank Airport.

Some of Dunleer’s capital improvement plans include gating the property, improving perimeter fencing and lighting, working through deferred maintenance items and renovating the interiors of the two vacant units.

Chad Gahr and David Young of NAI Capital Commercial represented Dunleer in the transaction. Mike Maniscalchi of Systems Real Estate represented the seller, an undisclosed local family.

LEASES

An undisclosed tenant inked an 804K SF industrial lease deal for Building 2 at Rider Logistics Center in Perris. The developer and landlord of the property at 450 East Rider St. is IDI Logistics. 

Colliers Vice Chairs Mark Zorn and Cory Whitman and CBRE’s Vice Chairman Dan de la Paz and Senior Vice President Jeff Fritch listed the property and brokered the lease on behalf of the landlord. The CBRE team represented the tenant.

CONSTRUCTION AND DEVELOPMENT 

R.D. Olson Construction completed the AC Hotel Pasadena. The 100K SF, $60M Marriott property at 19 S. Madison Ave. is the only branded hotel in Pasadena’s Playhouse Village. It holds 194 guestrooms and a rooftop bar and lounge.

The Pasadena property is the second AC Hotel R.D. Olson Construction has completed for Welcome Group Inc. in 21 months.

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C&C Development and Riverside Charitable Corp. opened The Meadows Senior Apartments in Lake Forest. The 65-unit affordable housing community is for residents 62 years and older earning from 30% to 60% of the area median income. The units are approximately 600 to 800 SF, and all units are Americans with Disabilities Act compliant and adaptable. 

FINANCING

Affinius Capital closed a $148.5M loan to refinance 800 Broadway, a Class-A high-rise multifamily property completed this year in San Diego. The property holds 389 apartments and nearly 5K SF of commercial space. The loan was made to an affiliate of Diamond Realty Investments Inc. The financing was arranged by a Northmarq team led by James Currell.