$110M Business Park Starts Construction

The development, at the intersection of Workman Mill and Mission Mill roads will take shape immediately across from Rio Hondo College. Ron Azad, portfolio manager for CB Richard Ellis Investors of Los Angeles, which is advising the SCPT, says the new project will be marketed to every large business seeking to establish a distribution center in a central area of the Los Angeles Basin. The park is a very important investment for the SCPT, Azad says, because it is expected to contribute substantially toward the retirement benefits of about 38,000 Southern California union carpenter families and retirees.

Stuart C. Milligan of Cushman & Wakefield reports that Gateway Pointe will feature nearly one million sf of space in its initial phase, where buildings are scheduled for November occupancy. That first phase will comprise three buildings of 613,375 sf, 260,911 sf and 77,195 sf. Phase two will feature two buildings of 346,381 and 304,705 sf.

Milligan, David Hasbrouck, G. Matthew Eggleston, John McMillan, Jeff Sanita, and Sean Scott in the Downtown Los Angeles office of Cushman & Wakefield are listing agents for Gateway Pointe. Milligan says the development's central location is expected to draw logistics users from Downtown Los Angeles, Commerce, Vernon, the South Bay and Mid-Cities areas. The business park is just 25 miles from the ports of Los Angeles and Long Beach. Its marketing points will include lower rents than competing projects in Santa Fe Springs, along with lower drayage costs than those associated with projects located farther east, Milligan says. He adds that demand is high in the immediate submarket because most of the big box buildings in the area have already been absorbed.

Chris Bell, project manager for Oltmans Construction Co., describes the buildings in Gateway Pointe as concrete tilt-up construction, with extensive use of glass and architectural treatments at entries, 30-ft minimum ceiling clearance, ESFR sprinkler systems, dock-high loading, large truck loading areas, rail service potential, 3% skylights, and abundant parking. HPA of Irvine, CA is the project architect.