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Fashion Nova inks lease for 133,000 sf warehouse in Santa Fe Springs
The 132,888-square-foot facility adds to Fashion Nova’s Santa Fe Springs footprint by about 33 percent, amid improving L.A. industrial leasing and declining vacancy.
Fashion Nova is expanding its Southern California logistics operations with a new industrial lease in Santa Fe Springs, taking over a 132,888-square-foot warehouse at 12301 Hawkins Street, according to CoStar, as summarized by Commercial Observer.
The Los Angeles-based fast-fashion retailer will occupy the property in the Heritage Springs Business Park, which includes 12,004 square feet of office space on a 5.4-acre site, per a JLL marketing brochure. The facility features 30-foot clear heights, 18 dock-high doors, two ground-level doors, and 175 parking spaces, Commercial Observer reported.
The company’s new space increases its warehouse footprint in Santa Fe Springs by about 33 percent. Commercial Observer also linked the move to broader leasing momentum in Los Angeles County’s industrial market, where leasing activity reached 15.7 million square feet in the second quarter, up 40 percent year over year.
In the same quarter, L.A. industrial markets posted 2.8 million square feet of positive net absorption for the third consecutive quarter, after 10 straight quarters of negative absorption, according to CBRE, via Commercial Observer. Vacancy declined 22 basis points since the first quarter to 5 percent, while average asking rents fell to $1.19 per square foot per month, down 7 percent from a year earlier and down 32.4 percent from the second quarter of 2023, with Santa Fe Springs included in the Mid-Counties submarket.