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Logistics firm HHM International is taking over an 82,195-square-foot transportation yard in Los Angeles’ South Bay after signing an almost four-year sublease valued at $4 million.
The Klabin Company announced the sublease and represented the new subtenant at 14521 Avalon Boulevard in Gardena, Calif., about 15 miles north of the ports of L.A. and Long Beach.
Signal Hill, Calif.-based HHM provides transportation, logistics and specialty services. The company is subleasing the land from Corridor Recycling, which brokers, processes, packs and exports recovered materials. Property records show the site is owned by an entity run by JD Rush Company.
Klabin’s Tyler Rollema and Matt Stringfellow represented HHM International on the sublease. Guy LaFerrara at Lee & Associates’ Irvine office represented Corridor Recycling.
“As its business continues on an upward trajectory, HHM was in the market for a new yard for its growing fleet of trucks and need for additional space,” Rollema said in a statement. “Due to its location, functionality and pricing, the yard on Avalon Boulevard was the right fit.”
Southern California continues to see the nation’s highest rent increases on industrial space. The region claimed the top three spots nationally, with in-place rents growing annually in August 19.2 percent in the Inland Empire, 11.8 percent in Los Angeles and 10.5 percent in Orange County, according to CommercialEdge’s most recent industrial market report.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
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