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Foot Locker Signs Largest Industrial Pre-Lease In Southern California At El Monte Logistics Center

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LEASED

California

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Industrial361,000 SF
Leased 10/19/2023
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LEASED

Foot Locker Signs Largest Industrial Pre-Lease In Southern California At El Monte Logistics Center

3900 Arden Drive

See Similar Deals
Industrial361,000 SF
Leased 10/19/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$0
Total Square Footage:361,000 SF
Transaction Type:Lease

The largest industrial pre-lease of the year in Southern California has been signed by Foot Locker, committing to approximately 361,000 square feet of space at El Monte Logistics Center. This distribution facility is expected to be completed in early 2024 and is situated about 33 miles from the ports of Los Angeles and Long Beach. The transaction reflects a shift in demand for industrial space due to changing consumer spending and cost-cutting measures among occupiers.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not mentioned
  • SF: 361,000
  • Address: 3900 Arden Drive
  • Market: El Monte

Ares Management (ARES) represented by Michael Arougheti and Black Creek Group serve as landlords for this lease agreement, while Foot Locker's representative is Mary Dillon. This deal highlights the key individuals and companies involved in the transaction, providing insights into the people behind the deal.

Players

Ares Management
Ares Management
LENDER
Ares Management
Ares Management
LANDLORD
Black Creek Group
Black Creek Group
LANDLORD
FL
Foot Locker
TENANT

Details

LEASED
IMAGE: Michael Arougheti & Mary Dillon DATE: 10/19/2023 ADDRESS: 3900 Arden Drive MARKET: El Monte ASSET TYPE: Industrial ~ SF: 361,000 LANDLORD: Ares Management (ARES) - Michael Arougheti; Black Creek Group TENANT: Foot Locker (@FootLocker) - Mary Dillon (@Ceo_FootLockerinc) NOTE: Foot Locker signed the largest industrial pre-lease of the year in Southern California, committing to approximately 361,000 square feet of space at El Monte Logistics Center. The distribution facility is expected to be completed in early 2024 and is situated about 33 miles from the ports of Los Angeles and Long Beach, reflecting a shift in demand for industrial space due to changing consumer spending and cost-cutting measures among occupiers.

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Deal Type
Effective Rent (Annual)

$20,692,302.16

Total Lease Value

$206,923,021.57

Net Landlord Cash Flow$20,692,302.16