The Magellan Group just broke ground on its Magellan Gateway, a five-building, 501k SF industrial park in El Monte, CA. Principal and co-founder Kevin Staley (with his team and city officials) says the company is confident the $55M project will meet demand in the supply-constrained market. Magellan bought the nearly 27-acre site a year ago, which at that time was one of the largest remaining infill industrial parcels in the area.
The HPA Architecture-designed project is the first new large scale industrial development in El Monte since 2008, and should be complete in Q4. The development will offer a variety of spaces for lease or sale, with Cushman & Wakefield handling the listing.
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