Group 7 NEWS

Modlo’s operating portfolio reaches 100% occupancy

Nov 22, 2020

Modlo is pleased to announce that its nearly 12 million square foot operating portfolio is now 100 percent leased.

“Realizing full occupancy in our operating portfolio is a testament to the demand for logistics properties in an economy that is increasingly dependent on e-commerce and fast, safe delivery,” said Tom Cherry, Head of Leasing for Modlo.  “We’re also pleased with what it says about the quality of our portfolio: in our view, strategically-located assets with great features in key markets will always be in high demand.”

In reaching this milestone, Modlo executed a lease at Reyes Commerce Center 1, located in City of Industry, California. The property, which recently underwent a significant renovation, was leased to a rapidly growing international fashion e-commerce company. The building is in close proximity to the Ports of Los Angeles and Long Beach and provides quick access to the large consumer base in Southern California.

Modlo also executed two additional leases — totaling more than 300,000 square feet — in Northgate Business Park, located in North Las Vegas to a national electrical wholesaler and a large national appliance and plumbing manufacturer and distributor. The Class A buildings are situated in a prime distribution location just 7 miles from the US-95 and I-15 interchange. Customers have the ability to access several major West Coast population centers within a one-day drive.