Terreno Realty Company — a San Francisco-based proprietor and operator of commercial actual property — kicked off the redevelopment of a 231,000-square-foot, two-building industrial property on an 11.1-acre lot in Gardena, Calif. Anticipated to be accomplished in 2027, the redevelopment will flip the asset into three industrial buildings totaling 228,000 sq. ft of Gardena industrial area.
Positioned at 1855 W. 139th St. and well-positioned logistically near I-105, I-405 and I-110, the property’s location in Gardena locations it near the Torrance, Calif., industrial market. Moreover, Gardena is situated roughly 15 miles from the ports of Los Angeles and Lengthy Seashore. Notably, with industrial area in Los Angeles and surrounding areas being traditionally scarce as a consequence of low quantities of developable land, the metro is among the best markets within the nation.
The 2 buildings to be demolished are presently leased short-term to an e-commerce firm. After the redevelopment, the property will characteristic 34 dock-high and 17 grade-level loading positions, in addition to parking for 332 automobiles. Terreno can also be focusing on a LEED certification for its redeveloped property — a development that has turn into extra commonplace in different industrial actual property asset varieties apart from workplace.
Terreno Realty focuses on working industrial actual property in high-demand port markets. It has 257 buildings in Los Angeles, San Francisco, Seattle, the New York/New Jersey space and Washington, D.C.
Terreno’s Gardena redevelopment is the newest funding by the corporate within the Los Angeles space. In This fall 2023, the corporate dished out greater than $45 million for a two-building industrial property in Redondo Seashore, Calif., six miles southwest of Gardena. Terreno’s enterprise actions to this point in January embody the acquisition of a Bellevue, Wash., industrial property for roughly $6.5 million, in addition to the complete pre-lease of its Countyline Company Park Part IV Constructing 39 in Hialeah, Fla., for 10 years.
