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Pair of New Industrial Facilities in La Verne Being Marketed for Sale or Lease

12/17/14

Two new, state-of-the-art industrial facilities, totaling 83k sf, in La Verne are being offered for sale or lease. The buildings, located at 1300 and 1306 Palomares Dr, just north of Arrow Hwy, are expected to be completed in the first quarter of 2015.

The concrete tilt-up buildings will both feature mezzanine office space along with immediate access to major surface transport routes including the Orange Fwy (SR 57), the Pomona Fwy (SR 60) and the San Bernardino Fwy (I-10). Direct access to both the ports of Los Angeles and Long Beach, and to Ontario International Airport, and visibility along Arrow Hwy are additional features that could attract buyers or tenants to the site.

The larger of the two concrete tilt-up facilities totals 50k sf on 2.29 acres. It includes 2k sf of office space on a mezzanine level, 26-foot ceiling clearances, a completely secured truck court, four dock-high loading doors, one grade-level loading doors and parking for 72 automobiles.

The second and smaller structure totals 33.2k sf on 1.52 acres. It has the same amount of office space and ceiling clearances as the larger structure with three dock-high loading doors, two grade-level loading doors, a fully secured truck yard and parking for 46 automobiles.

The buildings are being developed by Pico Rivera-based CEG Construction, a vertically integrated design-build industrial/commercial contracting and development firm specializing in turnkey industrial projects. Scott Heaton and Joseph Williams of Colliers International are marketing the buildings to a variety of potential tenants, owner-users and investors for CEG.

With vacancies hovering in the 2 to 3 percent range, and demand far outstripping the supply of available Class A industrial buildings in both Los Angeles County specifically and in Southern California overall, CEG expects strong demand for the new project. The company is breaking ground on the buildings without a tenant or buyer committed to the either of the facilities. It underscores further the strength of Los Angeles County’s industrial submarkets like La Verne, which have seen unprecedented net absorption over the past 24 months and vacancy rates at near-record lows levels.

One of the location’s most distinctive features is the extensive landscaping CEG designed into the site plan especially at the front of the buildings, noted Williams. This includes mature oak trees that were preserved during the construction and give the entire site a park-like environment.

“Both of these buildings are state-of-the-art facilities with the latest in construction techniques, including the use of energy-saving building materials, easy access for trucks, and locations that make them ideal for a variety of users from logistics companies to manufacturers,” added Williams. “Coupled with the fact that there is so little new industrial product on the market and you have an ideal solution for so many different types of potential users.”






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