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Pacific Industrial Lands Another LA Development

| March 31, 2015 | 0 Comments

FOR IMMEDIATE RELEASE

Contact:
Charley O’Desky, charleyo@pac-industrial.com
Cell: 949.500.7852
Evelyn Weiss Francisco (for Cushman & Wakefield), evelyn@caryl.com
201.796.7788

Active Southern California development firm closes fourth transaction of Q1 2015

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VERNON, Calif. – March 31, 2015 – Pacific Industrial, a Long Beach-based investment firm that focuses on the development and acquisition of industrial real estate, announced today that it has closed on its fourth transaction of Q1 2015 and is breaking ground on the Pacific District Center. Located in the heart of Central Los Angeles, this industrial campus will feature three Class-A buildings, totaling 188,570 square feet.

Bordering the 710 freeway and within close proximity to the Ports of Los Angeles and Long Beach, this state-of-the-art development will satisfy a surging demand for Class-A industrial product in the Central Los Angeles market. Designed to be best-in-class, this campus will feature true dock high loading, 100 percent concrete and secured truck courts, significant glass lines, high image, two-story office spaces, and above-standard skylight counts to enhance daylight.

With this same development philosophy, Pacific Industrial achieved 100 percent occupancy prior to completion of construction for its 420,000+ square-foot, Class-A industrial project located directly across the 710 freeway in the City of Bell. “With so few land sites available in the Central Los Angeles market, we are excited to deliver another premier industrial project to this historically tight market,” explains Neil Mishurda, co-founder of Pacific Industrial.

The City of Vernon continues to be particularly attractive for industrial users due to the fact that the city offers a range of advantages including the lowest utility rates in Southern California for electricity, natural gas, water, and fiber optics. “We are optimistic that the combination of our project’s aesthetic design, prime location, and the City of Vernon’s business-friendly environment, will attract quality, long-term occupants to the Pacific District Center,” adds Mishurda.

Currently, the Central Los Angeles market boats a vacancy rate of 3.1%, its lowest level since the fourth quarter of 2008. “The Pacific District Center is being built in one of the tightest markets in Southern California,” explains John McMillan, executive vice president of Cushman & Wakefield and the exclusive leasing broker for Pacific District Center. “Making this project even more attractive is the fact that Pacific Industrial has successfully set the new standard for Class-A development by establishing a track record for developing some of the best buildings in this market,” adds McMillan.

Pacific District Center is expected to be completed by the first quarter 2016.

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More information about this project can be found at www.PacificDistrictCenter.com.

About Pacific Industrial

Pacific Industrial is a Southern California-based investment firm exclusively focused on the development and acquisition of industrial real estate. As one of the most active privately held development firms in Southern California, Pacific Industrial is currently developing several million square feet of industrial space and has closed over $400 million of transactions since 2012.

For more information please visit:  www.Pac-Industrial.com

About Cushman & Wakefield National Industrial

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Category: Cushman & Wakefield National Industrial, Industrial Real Estate, News Releases, Newswire: Latest News

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