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10/14/14
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Xebec Realty Partners affiliate is able to move forward with development of 10th Street Center, a three-building 342.6k sf, Class A industrial park project in Azusa, after obtaining $28 mil in senior loan financing from PCCP LLC.
The 21.6-acre site, which was acquired in June 2013, has been entitled for industrial use, allowing construction to now get started on three speculative buildings. The first building will total approximately 88.3k sf, the second building will total approximately 75.3k sf, and the third building will total approximately 179k sf. The facilities will have state-of-the-art features that include a 32-foot clear height and ESFR sprinkler system.
10th Street Center is situated along the west side of Todd Ave near the 210 and the 605 freeways, which provide access throughout all of Los Angeles County. The property is located in the San Gabriel Valley area, one of Los Angeles’ tightest industrial submarkets, with 1.3 percent vacancy, according to the latest research from CBRE.
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