PERRIS, CA-Storm Properties Inc. of Torrance has completed the 84,000-sf, three-building first phase of its Oleander Industrial Park, a development of distribution buildings for lease or for sale. Asking lease rates for the buildings range from 44 cents to 48 cents per sf per month, with asking sales prices of $80 to $91 per sf.
Storm expects to break ground in June for Phase II of the Oleander project, which will include two more buildings. According to Kent Phillips, president of Storm Properties, the company is also working on an additional eight buildings at another project, Storm Business Park, in Torrance.
Storm Properties is a division of Storm Industries Inc. Storm Industries is a private, diversified holding company with interests in industrial and residential real estate, irrigation parts and after-market replacement parts for diesel engines. The company has been in business since 1932, evolving from a basic manufacturing enterprise into a family of business units.
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