Bridge Development plans distribution center outside Torrance

With 174K sf warehouse, firm looks to seize on demand for last-mile centers

Los Angeles /
Sep.September 18, 2020 11:00 AM
Heather Crossner and the site (Credit: Google Maps)
Heather Crossner and the site (Credit: Google Maps)

Looking to seize on the demand for warehouses, Bridge Development Partners wants to build a 174,000-square-foot distribution center outside Torrance.

An entity tied to the Chicago-based developer filed plans with the city of Los Angeles for the Sepulveda Boulevard project this week. The 6-acre development site is located at 1351-1361 Sepulveda Boulevard.

Heather Crossner, senior vice president for development at the company’s L.A. office, applied for the project on behalf of Bridge 1355 Sepulveda LLC. Herdman Architecture and Design is representing Bridge in the entitlement process.

Bridge is still looking to purchase the properties. The warehouse would have a maximum ceiling height of 44 feet, offices, and 190 parking spaces.

Bridge is a major investor and developer in the area and last August set a record for the biggest non-portfolio industrial purchase in the Inland Empire when it bought a 1.43-million-square-foot Rancho Cucamonga facility from Big Lotsfor $191 million.

Bridge could not be reached for comment in time for publication.

The industrial sector, particularly logistics and last-mile delivery, have weathered the coronavirus pandemic far better other real estate sectors.

Industrial real estate investment trusts have posted 27 percent returns this year, while the broader Bloomberg U.S. REIT index is down more than 13 percent since the beginning of 2020. Amazon is making a huge push this year to expand its industrial footprint, and just announced it would open 100 distribution centers this month alone.

Southern California has historically been one of the strongest markets for industrial and distribution properties, and the pandemic hasn’t changed that. Developers in the area are bullish — 60 percent of respondents to a UCLA survey in July said they were planning an industrial development and 39 percent said they were planning multiple.


Related Articles

arrow_forward_ios
ART: Mercury Air Cargo president John Peery and 8900 Bellanca Avenue (Mercury Air Cargo, Mohr Partners)
Key logistics link leases 163K sf site near LAX
Key logistics link leases 163K sf site near LAX
Hines finds a Penney among $250M in SoCal buys
Hines finds a Penney among $250M in SoCal buys
Hines finds a Penney among $250M in SoCal buys
Jeff Bezos and Randy Kendrick and 3301 Medford Street (Getty, Xebec Realty, Google Maps)
Amazon to open 202K sf warehouse in East LA
Amazon to open 202K sf warehouse in East LA
Rexford co-CEOs Michael Frankel and Howard Schwimmer and 8911 Aviation Boulevard (Wexford Industrial, Google Maps)
Rexford takes a flyer on Inglewood industrial
Rexford takes a flyer on Inglewood industrial
Kevin Staley, managing partner, Staley Point Capital; Andrew Terris, managing director, real estate, Bain Capital; and view of 12065 Pike Street (Google Maps, Bain Capital, Staley Point)
Staley Point, Bain spring for beer bash
Staley Point, Bain spring for beer bash
Rexford Industrial Realty co-CEOs Michael Frankel and Howard Schwimmer and property at 4240 West 190th Street (Wexford Industrial Realty, Newmark)
Rexford’s latest in South Bay brings 307K sf
Rexford’s latest in South Bay brings 307K sf
The Mix at Harman Campus at 8500 Balboa Boulevard with Shubin Nadal Realty Investors' Bill Shubin and Lonnie Nadal (Shubin Nadal Realty Investors)
44-acre business campus in San Fernando Valley for sale
44-acre business campus in San Fernando Valley for sale
An illustration of the Freeway Business Center (Freeway Business Center)
Newport Beach investor gets 709K sf of industrial
Newport Beach investor gets 709K sf of industrial
arrow_forward_ios

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

Loading...