Xebec Realty plans 600K sf of industrial in Sylmar
Firm acquired 28-acre site for $92M last November
Xebec Realty is planning to build over 600,000 square feet of industrial space on 28 acres of land it bought in Sylmar for $92 million last year.
The Dallas-based industrial firm has filed plans for a 440,000-square-foot warehouse and a 164,000-square-foot warehouse at 15827 Roxford Street. Xebec did not respond to a request for comment.
Xebec will demolish a 220,000-square-foot warehouse on the site and will construct the two new buildings, with 410 parking spaces part of the package.
The project is “compatible for future development,” according to a review of the project.
Last November, Xebec acquired four plots of land for the project, buying the property from communications and defense firm L3Harris Technologies. The deal came with a provision that Xebec would only build industrial projects on the site, records show.
Xebec also secured a $54 million loan from Athene Annuity & Life Insurance Company in connection with its acquisition.
Xebec has properties all over the U.S., including Dallas, New York and Miami. In Los Angeles, Xebec owns a 343,7000-square-foot facility in Azusa and a 203,300-square-foot last-mile property in Vernon — both of which were completed in 2017.
Developers across Los Angeles have been racing to build industrial real estate, given the booming demand for e-commerce and logistics space. Few of the proposed developments are as big as Xebec’s new plans.
This month, L.A.-based industrial heavyweight Rexford Industrial Realty acquired a former Mitsuwa Marketplace location in Torrance for $18.95 million and said it planned to build an 80,000-square-foot warehouse on the site.