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5/06/08
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In what is reportedly the largest lease transaction in the City of Commerce in the last seven years, Bridge Publications, the company that produces all of the publications and compact discs for the Church of Scientology, has inked a lease for a 270.4k sf facility at 5600 E. Olympic Blvd, south of Whittier Blvd and east of Goodrich Blvd. The building is located within the TELACU Industrial Park and is the former home of Dixie Consumer Products LLC.
The 10-year deal is valued at $15 mil, or $0.44/sf/mo. The transaction is expected to replace approximately 275 of the 325 manufacturing jobs lost when Dixie closed the plant. Bridge was repped by John Repstad of Binswanger Realty Advisory Group.
Jeff Stephens, John Privett and Cameron Merrill of CB Richard Ellis represented TELACU in the transaction. According to Stephens, “Upon learning of the plant closure and the people that had lost their jobs, the landlord, TELACU (The East Los Angeles Community Union), aggressively pursued the opportunity to lease to another manufacturing business and worked out an agreeable lease termination with Dixie to facilitate the new lease.”
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