LOS ANGELES—Half of the Brickyard is officially leased up. UPS has signed a 521,000-square-foot lease with Clarion Partners at its 1-million-square-foot Compton logistics facility, and plans to take occupancy in late 2017 when the property is complete. The facility will serve as UPS's new package center, the company's 33rd delivery facility in Southern California that together bring more than 19,400 jobs to the market.
“This building was designed for the best companies in the world. It features ample car parking and a large truck yard as well as excess land for additional vehicle use. The Brickyard is very large for this submarket, and it is surrounded by millions of people in close proximity,” Bret Quinlan, the leasing broker for Clarion Partners at CBRE. “With E-commerce growing exponentially each year, this is perfect as a brown truck delivery site. Being strategically located with state-of-the-art amenities and this amount of space makes it a perfect fit for a company like UPS.” Ray Friedman, attorney with Elkins Kalt, served as the landlord's legal representation.
CBRE original was looking for a same-day logistics user to fill the space, due to its central location and access to major freeways and the ports. While UPS isn't a same day user, it still fits the user profile for the property, according to Quinlan. “This facility is ideal for companies that are in the logistics business. The Brickyard's proximity to major population centers is the most significant and relevant attribute of this site and enables quick and efficient delivery turnaround,” he says. “Its size is equally important and unique. Industrial vacancies are at record lows across the region and even lower in infill markets, and larger space is almost impossible to find. The Brickyard is the biggest new industrial site in the South Bay area, where the average large building is just about 100,000 square feet.”
The property still has nearly 500,000 square feet of available space, and ideally would house a similar tenant. The leasing team has been busy fielding interest from logistics users and large, well-known companies, like UPS. “We've been speaking with a variety of interested parties who are all drawn to the site's strategic location,” he says. “Household-name companies, many of which are attracted to the fact that the Brickyard is also very close to LAX and the ports. For those companies importing and distributing product locally or through LAX, this location promises to be cost effective and time efficient. There's not a lot of this type of new and spacious product in this market. A lot of companies of a certain size are forced to use numerous buildings in infill markets and can't consolidate into one building because 500,000-square-foot space is hard to find around here.”
LOS ANGELES—Half of the Brickyard is officially leased up. UPS has signed a 521,000-square-foot lease with Clarion Partners at its 1-million-square-foot Compton logistics facility, and plans to take occupancy in late 2017 when the property is complete. The facility will serve as UPS's new package center, the company's 33rd delivery facility in Southern California that together bring more than 19,400 jobs to the market.
“This building was designed for the best companies in the world. It features ample car parking and a large truck yard as well as excess land for additional vehicle use. The Brickyard is very large for this submarket, and it is surrounded by millions of people in close proximity,” Bret Quinlan, the leasing broker for Clarion Partners at CBRE. “With E-commerce growing exponentially each year, this is perfect as a brown truck delivery site. Being strategically located with state-of-the-art amenities and this amount of space makes it a perfect fit for a company like UPS.” Ray Friedman, attorney with Elkins Kalt, served as the landlord's legal representation.
CBRE original was looking for a same-day logistics user to fill the space, due to its central location and access to major freeways and the ports. While UPS isn't a same day user, it still fits the user profile for the property, according to Quinlan. “This facility is ideal for companies that are in the logistics business. The Brickyard's proximity to major population centers is the most significant and relevant attribute of this site and enables quick and efficient delivery turnaround,” he says. “Its size is equally important and unique. Industrial vacancies are at record lows across the region and even lower in infill markets, and larger space is almost impossible to find. The Brickyard is the biggest new industrial site in the South Bay area, where the average large building is just about 100,000 square feet.”
The property still has nearly 500,000 square feet of available space, and ideally would house a similar tenant. The leasing team has been busy fielding interest from logistics users and large, well-known companies, like UPS. “We've been speaking with a variety of interested parties who are all drawn to the site's strategic location,” he says. “Household-name companies, many of which are attracted to the fact that the Brickyard is also very close to LAX and the ports. For those companies importing and distributing product locally or through LAX, this location promises to be cost effective and time efficient. There's not a lot of this type of new and spacious product in this market. A lot of companies of a certain size are forced to use numerous buildings in infill markets and can't consolidate into one building because 500,000-square-foot space is hard to find around here.”
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