Bridge Development listing 512k sf industrial site in Torrance
The 20-acre site expected to fetch around $103M
Chicago-based Bridge Development is shopping its still under-construction 20-acre Bridge Point South Bay industrial site in Torrance.
The 512,490-square-foot Class A property, located at 20333 S. Normandie Avenue, could attract bids of about $103 million, or $201 per square foot, according to REAlert. The project is expected to be completed this year, with 176 trailer parking spaces.
Rusty Smith, Steven Bohannon, Rooney and Eric Daschbach of Cushman & Wakefield have the listing.
The property is not pre-leased, but demand is high in the surrounding 232.6 million-square-foot South Bay industrial submarket, according to REAlert.
The average occupancy rate in the area was 99.1 percent midyear, compared with 98.9 percent last year. Average asking rents were $10.20 per square foot, up from 15 percent year-over-year. [REAlert] — Subrina Hudson