First Industrial acquired the building, which is at 6250 Boyle the Central Los Angeles submarket, through its Development and Repositioning Joint Venture (FirstCal 1) with the California State Teachers' Retirement System. More than a third of the building is occupied, and First Industrial plans to reposition the balance of the building, which was previously occupied by its former owner, to accommodate either a single customer or multiple users.
Ryan McClean, senior regional director for First Industrial's Los Angeles region, describes the "key infill location" of the property, which features proximity to downtown Los Angeles, with access to Interstates 10, 710, and 110 as well as two railroad intermodal yards. He notes that the Central Los Angeles submarket is one of the largest and most supply-constrained in the US—a key distribution location for a variety of industrial users due to its access to all transportation modes as well as the large Southern California population.
 2851 Las Hermanas |
According to David Prior, president of the Klabin Co., the Los Angeles-based owner came to Klabin a year ago, after the termination of the Boise Cascade lease, to establish a strategy for the property in a South Bay business environment that has "dramatically changed" since the building was first developed. Today, Prior explains, the burgeoning logistics industry in Los Angeles' South Bay region has created a demand for modern, logistics-oriented facilities for the scores of companies looking for space to serve their port-related activities.
Prior says that the former Boise Cascade building, which is, "had inadequate truck yards for modern logistics use." With the assistance of local architect John Cataldo, Klabin formulated a plan calling for the demolishing of 40,000 sf of the original building and re-developing the property for logistics use. The refurbished concrete tilt-up building now features a new 30-position truck dock, with 46 total truck high positions, and a 195-foot concrete yard.
Such features are state-of-the-art for today's container logistics storage industry, Prior says. Other features of the sprinklered building include 11,735 sf of office space, 21-foot minimum clear height, 24-hour access, security fencing and immediate access to the ports and major freeways.
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