An industrial real estate new condominium development project consisting of 176,000 square feet of space sold this month to a local real estate developer. The site is located in the City of Downey, Los Angeles County. All cash closing! Class A construction and never occupied. The sale price was in the mid to high fifty dollar range per square foot of building area for this asset in foreclosure.
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Vernon Purchases 2 Leonis Blvd Properties
The city of Vernon, CA, purchased two industrial buildings totaling 62,555 square feet in Vernon from Central City Box & Paper for a total of $4 million, or about $64 per square foot. The deal included the vacant facilities at 2716 and 2724 Leonis Blvd. The city plans to hold the properties, which are adjacent to a city-owned power plant, for future development.
Rail Car MFG Building Anchors CleanTech Manufacturing Center
AnsaldoBreda is planning to set-up operations in Los Angeles to anchor CRA/LA’s CleanTech Manufacturing Center (CTMC). AnsaldoBreda will bring a new, sustainable facility and nearly 1000 middle-class jobs, as a result of METRO exercising its option to purchase light rail cars from AnsaldoBreda.
The CleanTech Corridor is a four-mile long district on the eastern edge of Downtown Los Angeles that stretches from the Los Angeles State Historic Park (formerly the ‘Cornfields’) at the northern end to the CTMC at the South, including both the east and west banks of the Los Angeles River. The CTMC is located at the intersection of 15th Street and Santa Fe Avenue in the downtown industrial core at the northern terminus of the Alameda Corridor Improvement Project and within the Central Industrial Redevelopment Project Area.
The project will consist of a 240,000 square-foot light rail car manufacturing facility on 14 acres of the CRA/LA-owned, 20-acre CTMC site. The CTMC is a former Brownsfields Revitalization site purchased by CRA/LA from State of California in 2008 for $14 million with the goal of attracting job rich clean tech businesses to Los Angeles.
American Apparel To Continue Operations in Downtown L.A.
Clothing Maker Inks 10-Year Deal With Landlord Meruelo Maddux
The Downtown-based garment maker American Apparel has reached a 10-year agreement with landlord Meruelo Maddux Properties to stay in its 800,000-square-foot, Warehouse District headquarters, according to American Apparel financial filings.
Although American Apparel’s lease expired in December 2008, it has continued to occupy the pink factory building at Seventh and Alameda streets. The extension comes more than fourth months after Meruelo Maddux, Downtown’s largest landlord, entered bankruptcy.
Prior to reaching the deal, American Apparel, which employs about 5,000 workers at the 747 Warehouse St. factory, was mulling a move. The company considered an old Boeing plant in Long Beach, among other potential new homes, said their real estate broker.
“There were other considerations, other buildings to look at, but Meruelo stepped up,” he said.
American Apparel represents Mereulo Maddux’s largest tenant, both in terms of the size of its space and the value of its former lease.
Terms of the new lease were not disclosed.
American Apparel CEO Dov Charney said the lease was agreed to this month, but declined to comment further on the deal. Richard Meruelo, CEO of Meruelo Maddux, could not be reached immediately Tuesday afternoon.
In addition to housing almost all business operations, the factory has also served as a massive billboard for the company to promote itself and its progressive, often immigration-oriented political messages. American Apparel can also now safely cling to its various mottos touting its “Made in Downtown L.A.” cache.
The building’s sprawling parking lot is also known as the site of festive blowout warehouse sales that draw thousands of young buyers looking for discounted t-shirts, leggings, short shirts and underwear. by Ryan Vaillancourt, Staff Writer, Downtown News.
Grease Interceptor (Clarifier) for Food Processing Buildings
For most industrial food processing facilities, the minimum required pretreatment of water containing solids or fats (grease) consists of a three-compartment, gravity separation interceptor (clarifier) and a sampling box. These water clarifiers can be found commonly in the yard area outside of the food prep area for operations such as seafood processing, poultry deboning, beef cutting, produce packing, commercial kitchens, commissaries, etc… The goal of these interceptors is to prevent dirty water containing solids from entering the sewer system. They are designed specifically for the sanitary removal of solid waste from food processing operations and smaller versions are commonly called grease traps in restaurants.