Chicago developer picks up flex warehouse near Arts District for $68M

Los Angeles /
Jan.January 18, 2019 02:00 PM
Bridge Development Partners CEO Steve Poulos and the BoxYard

Bridge Development Partners has paid Atlas Capital Group $68 million for a large warehouse property near Downtown Los Angeles.

The development, called the BoxYard, has five buildings with a total of 286,000 square feet of rentable flex space, according to Atlas’ website, which says it recently underwent a renovation. It sits on 8.2 acres at 2425 E. 12th Street, south of the Arts District.

Tenants include clothing wholesaler Special A, women’s clothing retailer People’s Project, and The Berrics, a popular skatepark .

Bridge, based in Chicago, is developing a handful of industrial projects around L.A., including in Long Beach, Torrance, and Vernon. In August, the company closed a $100 million sale with Morgan Stanley’s Prime Property Fund for a 512,000-square-foot new construction warehouse in Torrance.

The firm also sold a 10-property portfolio to Duke Realty Corporation in 2017 for $700 million.

An associate with Bridge confirmed the sale but did not provide further comment by press time.


Related Articles

arrow_forward_ios
Howard Schwimmer and Michael S. Frankel with 3629-3963 Workman Mill Road (top) and 13943-13955 Balboa Boulevard (Google Maps)

Rexford pays $340M for 2 industrial parks

Rexford pays $340M for 2 industrial parks
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
Continuum CEO Mark Falcone and a rendering of the project (EYRC Architects via Urbanize)

Continuum Partners, Platinum Equities plan Arts District office tower

Continuum Partners, Platinum Equities plan Arts District office tower
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
Tim Naughton and a rendering of the project (Credit: OFFICEUNTITLED and AvalonBay)

AvalonBay secures $167M loan for Arts District resi project

AvalonBay secures $167M loan for Arts District resi project
Golden Springs Business Center

Logistics firm inks big lease in Santa Fe Springs as industrial demand remains high

Logistics firm inks big lease in Santa Fe Springs as industrial demand remains high
Heather Crossner and the site (Credit: Google Maps)

Bridge Development plans distribution center outside Torrance

Bridge Development plans distribution center outside Torrance
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...