Weirick represented First Student in leasing the fleet site, which is at 11233 San Fernando Road. Finding the site was a challenge because limited land was available that fit the requirements of the bus company, and allowable uses are restricted on much of the land in the area because of zoning regulations. The First Student site is actually an assemblage of three adjacent parcels, Weirick says, explaining that Colliers approached the three different owners of the three properties and explained to them that First Student is a long-term, credit tenant that would minimize their risk in an uncertain economy.
First Student is a subsidiary of UK-based First Group, one of the largest ground transportation companies in the world. The largest parcel, owned by Anderson Trust, is 4.1 acres and includes a single-story 12,200-sf office building, which First Student will use as administrative offices and a service facility. The remaining parcels include 1.25 acres and 1 acre and are owned by JMT and Hare Trust respectively. Chris Sullivan and Michael LaRocque of Daum Commercial Real Estate Services represented the three property owners.
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