4 Industrial Projects On The Radar In LA
The industrial market is hot, as the four projects below prove. To delve into the future of industrial and the appetite for investment, Bisnow will be hosting the 6th Annual SoCal Industrial Real Estate event starting at 7:30am Wednesday at the LA Athletic Club.
15000 Nelson Ave
Dedeaux Properties is building a 125,494 SF building at 15000 Nelson Ave in City of Industry.
It will be on 6.18 acres and is being constructed by Donlon Builders.
Sun Valley Distribution Center
Prologis bought the Sun Valley Distribution Center, a 168k SF facility, last year in the Valley.
It is leased to Sugar Foods Corp and near Burbank Bob Hope Airport.
Prologis owns and operates 191 buildings in LA.
525 Park Ave
Rexford Industrial Realty bought 525 Park Ave in San Fernando last month for $7.6M, or $119/SF.
The two-tenant, Class-A industrial building is 63,403 SF on a 2.5-acre site.
Rexford Industrial Realty eventually plans to increase rents to current market rates.
3233 Mission Oaks Blvd
Rexford Industrial Realty also bought the 85% interest the company did not previously own in 3233 Mission Oaks Blvd in Camarillo for $21.8M. The total valuation was $25.7M, or approximately $56.20/SF.
There are two buildings on the property, containing 457,693 SF on 31.9 acres.
It was bought through a JV that recently finished an $11M capital improvement program, including upgrades and converting 295k SF of warehouse area into eight spaces ranging from 21k to 57k SF.