Freight Company Signs Lease With Overton

Overton Moore Properties has signed Performance Team Freight Systems to an 11-year, $36-million lease for 547,000 square feet of industrial space in the first phase of Overton’s new Port Los Angeles Distribution Center in San Pedro in what the principals say is one of the largest industrial leases ever executed in the South Bay. Performance and a sister company, Gale Triangle, will occupy two buildings at 300 and 400 Westmont Drive by early 2001, according to Don Koch of Overton Moore, which is developing the $90-million, 1.9 million-square-foot Port of Los Angeles project in partnership with Pacific Coast Capital Partners. Construction of the second phase, consisting of approximately 1.3 million square feet, is scheduled for the first quarter of 2001. Overton Moore and the tenant were represented by Tres Reid, Ken Carey and Greg Dyer of CB Richard Ellis.