Kirk Johnson, SVP of real estate operations for Watson, notes that vacancy rates for the past several years in the South Bay have remained low, in the range of 4% to 6%. The new buildings are being constructed on approximately 15 acres bounded by Beachey Place, Glenn Curtiss Street and Bishop Avenue. The buildings, 145,472 sf and 107,603 sf respectively, are designed to share a 271-foot common truck yard.

The design provides a number of potential unit sizes and is suitable for a wide variety of potential uses, Johnson says, including R&D, office, high tech and warehouse distribution. The buildings are scheduled for completion by the end of the first quarter of 2004, with Lee and Sakahara as the design architects and KPRS Construction Services as the general contractor. Among the design features are a high percentage of perimeter glass and skylights, with reduced building-to-land coverage that allows more landscaped areas and parking for office tenants; 32-foot clear heights; and lighting systems designed to help save energy.

Watson Land Co. is among the largest developers of master planned industrial centers in Los Angeles County, and among the largest industrial developers in the nation. Over the past 40 years, the company has master planned and developed more than 1,000 acres of industrial and commercial property. In addition, the company has developed and now owns and manages approximately 12 million sf of industrial, office and technology buildings and business centers.