Konoike Group plans 55k sf cold storage facility in Wilmington

Facility would add to Japanese firm's logistics portfolio in Los Angeles

Oct.October 03, 2018 12:00 PM
Konoike Group CEO Tadahiko Konoike and the largely vacant lot where his company wants to build its new cold storage facility

A Japanese transport and engineering company wants to build its third refrigerated storage facility in the South Bay neighborhood of Wilmington.

Konoike-Pacific California Inc., a subsidiary of the Konoike Group, filed plans on Tuesday for the 55,000-square-foot facility. The building would stretch along N. McFarland Avenue from East E Street to East F Street, directly next door to another Konoike cold storage and shipping facility.

The company needs city approval to build to a requested height of 54 feet, nine feet over the 45 feet allowed by zoning.

Konoike specializes in logistics, including temperature-controlled storage and transportation services in the United States. It also is involved in manufacturing and engineering in Japan. It operates one other facility in Wilmington, as well as one further north in South Gate.

The Wilmington site is comprised of a series of lots that are mostly vacant. The development would require demolishing a 3,800-square-foot commercial building along N. McFarlane Avenue. The property has been owned by the Community Redevelopment Agency of the City of Los Angeles since 2007, according to property records.

South Bay’s industrial market is red hot, giving landlords the pick of the litter when it comes to tenants. In some cases, landlords are booting out existing tenants when leases expire to make way for major national and Fortune 500 companies. Demand for modern Class A industrial properties are driving up demand — and prices — for Class B and Class C properties as well.

Related Article

Transwestern CEO Carleton Riser and the Inland Empire property

Inland Empire’s industrial reign continues as Transwestern buys massive Eastvale warehouse site

Terreno Realty Chairman & CEO W. Blake Baird

Terreno Realty makes another industrial play in LA

The Spot at 2139 South Pacific Avenue and Adam O’Neill, president of Square One Homes, LLC, and Stonebridge Real Estate Group Inc. (Credit: Google Maps, iStock)

Multifamily development in San Pedro surges, thanks in part to Opportunity Zones

Ron Galperin and an overview of LA (Credit: iStock)

LA owns thousands of properties, many of them vacant. LA’s controller has an idea to spur development

From left: Prologis CEO Hamid Moghadam, and Randall L. Stephenson, chairman and CEO of AT&T Inc, with the site

Industrial powerhouse Prologis picks up 11-acre property in Commerce

ASB CEO Robert Bellinger and Columbia Business Park

This industrial deal was one of the biggest acquisitions ever in Inland Empire

CIO Matt Evans, COO Alan Kraft and Todd Platt, CEO of Hillwood with Dedeaux Sycamore Canyon Distribution Park

Dedeaux Properties buys 1M sf industrial portfolio in Inland Empire

Lonzo Ball and the warehouse (Credit: Getty Images)

This just-traded LA Laker just sold his South LA warehouse