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2/02/17
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Industry Associates LLC has begun work on a new, 47k sf industrial and office development called Industry Gateway in Valencia, CA. The project will deliver much-needed contemporary warehouse and office space to the supply constrained Greater Los Angeles market.
The two-story development, which will be for sale or lease, sits within the Valencia Commerce Center and will feature 38k sf of state-of-the-art warehouse space on the ground floor and an open office concept and conference rooms on the first and second floors.
The site, at 28510 West Industry Drive, is 46.8k sf and features 28’ minimum clear height, ESFR sprinkler systems, three dock-high doors, and 73 parking stalls. The property is located about 30 minutes from Burbank Airport and 40 minutes from Los Angeles International Airport.
CBRE’s Craig Peters and Doug Sonderegger are marketing the project for Industry Associates. Industry Gateway is expected to be completed by May 2017.
“This project sits in a very desirable area within the Greater LA region,” said Peters. “It’s easily accessible by all the major population centers that have contributed to record levels of demand with literally no industrial vacancies.”
The Greater Los Angeles area industrial market has seen record low availability levels while demand is ever-increasing. During the current development cycle, construction levels have averaged 3.2 msf since 2013, significantly below the previous peak cycle of 7.2 msf between 2004 and 2007. Vacant space in Valencia has been especially limited and rental rates have been steadily rising to reflect this lack of supply, a trend that is likely to continue in the foreseeable future.
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