Trammell Crow JV Picks Up 20-Acre Clean Tech Site
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LOS ANGELES-Trammell Crow Co. and Principal Real Estate Investors have acquired the 20-acre former Crown Coach site for the future development of the CleanTech Manufacturing Center, a 370,000-square-foot, speculative, class-A industrial campus, which offers the largest contiguous industrial space in Downtown Los Angeles. The purchase price was not disclosed.
CTMC, located at 2425 E. Washington Blvd., is one-half mile from interstates 10 and 5 and the 60 Freeway. It represents the southern bookend of the four-mile-long CleanTech Corridor on the eastern edge of Downtown L.A. and is located in the East Los Angeles State Enterprise Zone.
The project, which is expected to be complete and ready for occupancy by fourth-quarter 2013, will consist of up to three buildings totaling 370,000-plus square feet, each with the flexibility to convert to multi- or single-use occupancy. Amenities will include 100% secured and gated facilities to accommodate bonded manufacturing and storage warehouses, 32-ft. clear heights, 120-135-ft. concrete truck courts, dock-high loading, 60-ft. speed bays, flexible column spacing, T-5 lighting, photovoltaic panels, 3% skylighting, reflective roofing, high-efficiency HVAC, ESFR sprinklers, finished ground-floor offices and an ample mezzanine.
The development team will seek LEED for New Construction Silver certification. Leasing will be managed by John Privett and John Hillman of CBRE Group Inc.’s El Segundo, CA, office.
“We believe this is an outstanding parcel of real estate, in a 200-million-square-foot market with less than 2% vacancy, and having no new state-of-the-art buildings to accommodate Clean Tech or other related manufacturing businesses,” said Bradley Cox, senior managing director for Trammell Crow’s L.A. business unit, in a prepared statement. “Our team will work closely with the Mayor and City Council offices to aggressively market to attract Clean Tech manufacturing uses to the property to create new jobs in the City of Los Angeles.”
As GlobeSt.com previously reported, in July Trammell Crow and Partners Health Trust, a joint venture between TCC and a separate account client advised by Bentall Kennedy, had completed construction on Foster City Medical Pavilion, a 40,000-square-foot medical-office building located at 1241 E. Hillsdale Blvd. in Foster City, CA.
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