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Cerritos council authorizes 5‑year lease of 12880 Moore St.; staff says lease will keep sales tax base local
Summary
Council approved a resolution authorizing a lease of a vacant city‑owned industrial building at 12880 Moore Street to a tenant doing business as Revolve Clothing. Staff said the proposed lease would begin at $35,375 per month, run five years with extension options, generate more than $7 million and help retain local jobs and sales tax revenue.
CERRITOS, Calif. — The Cerritos City Council on Oct. 27 authorized a lease of a city‑owned 35,000‑square‑foot industrial building at 12880 Moore Street to a tenant described in staff materials as doing business as Revolve Clothing.
Deputy city manager Ryan Carey told the council the lease would start at $35,375 per month with a 3% annual increase, include a five‑year initial term and up to three optional three‑year extensions, and generate more than $7 million in revenue over the potential lease term. Staff said the lease would help retain Revolve’s sales tax base in Cerritos and support approximately 1,000 local jobs.
Carey said the building has been vacant and was acquired by the city in 2008; the proposed agreement would declare the property not required for other city purposes and authorize the city manager to finalize lease documents consistent with the nonbinding letter of intent.
Councilmember Mark Pulido moved to adopt the resolution authorizing the lease; the motion was seconded and passed 5‑0.
What happens next: Staff will finalize lease documentation consistent with the letter of intent and return final documents to be executed by the city manager or designee.
