AMB leases SoCal facility to USC Intermodal
San Francisco industrial real estate firm AMB Property Corp. said Thursday it has leased a 199,184-square-foot facility in the South Bay area of Los Angeles to Carson-based 3PL USC Intermodal.
Financial details of the deal, terms of the lease, and the actual location of the property were not disclosed.
AMB purchased the vacant property in August 2006 for nearly $20 million and has since upgraded and modernized the facility, named the AMB Clipper Distribution Center.
According to AMB, USC Intermodal leased the rail-served property to accommodate the 3PL's expanding presence in the South Bay. USC Intermodal operates two primary facilities in the Southern California port-area. The 135,000- and 119,000-square-foot warehouses feature transload capabilities and a total of 51 shipping/receiving doors.
'The South Bay benefits from two powerful demand drivers, access to Los Angeles International Airport and the ports of Los Angeles and Long Beach, as well as proximity to the huge and growing population base in Southern California,' said Gene Reilly, AMB’s president, the Americas.
AMB anticipates a growing demand for rail-served port-area properties due to a plan being proposed by the two adjacent ports to cut emissions from port-serving drayage trucks.
According to AMB's portfolio listings, the firm owns or has investments in 164 Southern California industrial properties representing 17.5 million square feet. Southern California is the firm's largest regional market.