Investment firm Comstock Realty Partners is looking to build a 66,654-square foot warehouse in Pacoima.
The company is planning a 44-foot-tall, single-story structure at 13000 West Pierce Street, according to a filing submitted to the city’s Planning Commission. The proposed property will replace a 43,180 industrial building. The project will be built on a 2.58-acre lot, according to Comstock’s website.
The proposed building will have two sections: an 8,224-square-foot office area evenly split between a portion of the ground floor and a mezzanine, and another 58,430 square feet of warehouse space. In its permit application, Comstock said that the project was designed to be similar in appearance and size to industrial properties in neighboring blocks.
The property is currently under a lease that expires in the third quarter of 2022. In its website, Comstock said that it will start the redevelopment once the tenant vacates the property.
Comstock, founded by former Magellan Group executive Adrian Comstock, is also building a housing and entertainment complex at the former Veterans Memorial Park in Commerce in southeastern Los Angeles County. The development, now called Modelo, will include 850 residential units and 165,000 square feet of retail, restaurant and entertainment space.
Another project the company has in the works is at 717 West State Street in Ontario in the Inland Empire, where it plans a 106,212 square foot warehouse.
Comstock bought the property in Pacoima for $6.45 million in December of last year, according to data from PropertyShark. Adrian Comstock did not immediately respond to a request for comment.
If approved, the project will add to the 7.7 million square feet of industrial space that is currently under construction in Los Angeles County. In August, the vacancy rate in the county was at 3.2 percent while rents jumped 6.5 percent on a year-over-year basis.