GARDENA, CA–(Marketwired – Jul 7, 2016) – Storm Properties, Inc. recently held a ribbon-cutting to celebrate the completion of the newly constructed Storm Fujimoto Industrial Center at 15913 S. Main St. in Gardena and welcome tenant Exquisite Apparel Corp. Storm Properties, a leading developer, owner, and manager of industrial and commercial properties, partnered with long-time property owners the Fujimoto family to develop a rarity in South Bay real estate: a state-of-the-art, 114,061 square-foot, Class-A industrial building.
For some 58 years, the site was the home of Coast Nurseries Inc., operated by Sam Fujimoto and family. After deciding to close the business and sell, they selected Storm Properties, also a long-time South Bay firm, to partner in the project.
The facility will allow Exquisite Apparel, based in New York City, to consolidate its West Coast distribution from two other locations. The company specializes in licensed apparel and loungewear.
“We’re excited to have Exquisite Apparel occupy our newest Class-A industrial development; it is a very well-run, financially strong and growing company with a fantastic outlook,” noted Jay Ahluwalia, president of Torrance-based Storm Properties. “Our facility’s Class-A features and proximity to the ports are very desirable to users and helped to drive significant demand and pre-lease activity for our project, of which there is no currently available comparable supply.”
Storm Properties currently manages a diverse portfolio of industrial and retail properties, and is targeting significant growth through further acquisitions. Its efforts are focused on core-plus to value-add retail and industrial properties in the $5-million to $30-million range in major Western metro markets. Additionally, Storm is seeking additional land opportunities for residential entitlement and commercial/industrial development.
Storm Properties, Inc. is a subsidiary of Torrance-based Storm Industries, Inc., an innovative and entrepreneurial organization with a growing family of companies. Over its 83-year history, Storm Industries, Inc. has evolved from a single brass foundry in Los Angeles to a highly diversified group of businesses operating across the globe.