The asset involved in this transaction is an industrial property located at 15001 South San Pedro Street in Gardena, comprising a total area of 5.1 acres of improved land utilized for outdoor storage. The property is situated within the South Bay logistics corridor, which is characterized by its proximity to the Port of Los Angeles and the high demand for industrial outdoor storage space fueled by port activity.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not disclosed
• Landlord: Blake Baird - Terreno Realty Corporation
• Tenant: M & L Expressway Inc
• Lease Term: Co-terminus lease through August 2029

The lease was extended and expanded by Terreno Realty Corporation, reflecting the increasing demand for drayage services by M & L Expressway Inc. This transaction highlights the urgency and competitiveness of securing industrial space in the region, driven by logistics requirements feeding off the nearby shipping ecosystem.