Liz Claiborne Warehouse Nets $68m
Liz Claiborne’s West Coast distribution center in Santa Fe Springs, Calif., has been sold for $68 million to Irvine, Calif.–based Birtcher Development & Investments.
Liz Claiborne will continue to operate out of the 608,000-square-foot facility, which sits on a 23-acre parcel. The apparel giant leased the facility, located at 9400 Santa Fe Springs Rd., eight years ago following the demise of previous tenant Fedco, said a representative of Colliers International, the real estate company that represented Birtcher.
Northwestern Mutual Life Insurance Co. is the seller of the property. It acquired the parcel in 2004 for $45 million.
Demand for warehouse space in Los Angeles’ Southeast corridor has been at record highs since there is very little available land or properties on the market. Colliers’ data shows a vacancy rate of less than 2 percent in this market. Many companies looking for large space have had to move to the Inland Empire and other outside markets. —Robert McAllister
