Mercedes Benz Signs Largest Los Angeles Commercial Lease in a Quarter Century in Long Beach

Posted June 5, 2014

In California, Commercial, development, Los Angeles, net lease, nnn

Long Beach city and business executives broke ground on Mercedes-Benz’s new facility in East Long Beach near the Long Beach Airport where Mercedes will consolidate approximately 200 employees from its Western Regional Offices and other local operations.

The new space will also be used as a center for preparing the high-end cars and SUVs, imported through the Port of Long Beach, before they’re delivered to West Coast dealerships. The area is central for Mercedes-Benz, whose cars are imported through the Port of Long Beach. The automaker holds a market share of 3.5 percent in Los Angeles County.

Mercedes Benz signed 15 year Los Angeles real estate triple net lease late last year at 4501 Conant Street for one million square feet at the old Boeing 717 manufacturing plant in East Long Beach. Ground breaking was today with Mercedes Benz executive Dietmar Exler and Long Beach mayor Bob Foster, who said the move to Long Beach would pay big dividends to the city.

Several Long Beach commercial real estate potential tenants had looked at the 52 acre site over the last few years including Tesla and a film studio or two.

The Boeing 717 manufacturing site closed in 2006 to move production elsewhere.

East Long Beach commercial real estate had gotten a bit stale over the last couple of decades so with the new Mercedes facility, expect to see a rebirth of new retail and mixed use Long Beach commercial real estate for sale and lease.

If you have similar needs, contact your Los Angeles commercial realtor or me, Scott Harris at 310-473-4789

Net Leased Retail, Triple Net Retail

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