Warehouse District next to Los Angeles State Historic Park AKA The Cornfield
This 41,772 square foot industrial warehouse on 67,000 square feet of land is listed as available for lease on North Spring Street. Located in the DTLA North Industrial District which has seen many uses similar to the DTLA Arts District including breweries, galleries, restaurants, and bars. Highland Park Brewery and Majordomo are a few blocks away. It is located within the Cornfield Arroyo Seco Specific Plan zoning overlay.
Below are the property highlights.
100% Air conditioned
Across from the 32 Acre Los Angeles State Historic Park
Dock high and ground loading
Heavy power
Gated yard and rooftop parking with ±130 spaces
Certificate of occupancy allows for a capacity of 602 people
A San Francisco developer has filed plans to build a 261,000-square-foot data center in the Los Angeles County industrial hub – the City of Vernon.
Prime Data Centers, a wholesale data center developer and operator, has proposed a three-story building on 4.5 acres at 4701 S. Santa Fe Ave., five miles south of Downtown Los Angeles, the Los Angeles Business Journal reported.
The first known data center in the industrial city will replace a 224,600-square-foot garment manufacturing facility built in 1946 and last renovated in 2001, according to Dgtl Infra Real Estate. The property was most recently listed for $30 million.
The new data center is expected to deliver up to 33 megawatts of power to its tenants. The company is also creating a 49.5 megavolt amp substation that will service the new site. Completion is expected in the fourth quarter of next year.
One of Los Angeles’ key strengths is its diverse long-haul fiber and subsea cable connectivity, according to Dgtl Infra. L.A. gives long-haul fiber routes linking Phoenix and Las Vegas access to the West Coast, while serving as a key access point for long-haul fiber routes between Mexico and Canada.
To this end, Prime Data Centers’ Vernon facility will be carrier-neutral and up to five miles away from major interconnection hubs at One Wilshire, 600 W. Seventh St., 530 W. Sixth St., 900 N. Alameda and 818 W. Seventh St. in Downtown Los Angeles, DTLA.
“Los Angeles is a thriving global connectivity market, and our new hyperscale Vernon data center will be right in the middle of it all,” Nicholas Laag, chief executive and founder of Prime Data Centers, said in a statement.
Map of Data Centers in Los Angeles and Southern California.
Map of Data Centers in Downtown Los Angeles.
About Data Centers
The growing reliance on cloud computing and data storage has led to an increased demand for data centers. The two fastest growing segments of the data center space are hyperscalers and edge data centers. Hyperscalers are typically defined as business-critical facilities that are significantly larger than typical data centers and are designed to support robust and scalable applications. These assets are typically owned by companies such as Google, Amazon, Microsoft or Meta. A growth forecast from Data Bridge Market Research indicated that the hyperscale data center market will grow at a CAGR of roughly 29.32% between 2023 and 2035.
Edge data centers are located closer to the users and their devices that collect and transmit data, or wherever data is being generated. Generally, these centers work as the go-between between the cloud or centralized regional data centers and IoT (Internet of Things) devices and their associated cellular tower sites. There is an expectation for IoT devices to grow 16% in 2023 to have an estimated 16.7 billion active end points. This would show a CAGR of 26.1% between 2023 and 2030.
These data center facilities are the hub of the new economy and play a fundamental role in our society and digital economy. Their reliability and growth are critical for the continued development of our economy into Web 3.0.
The rapid growth of emerging technologies like Artificial Intelligence (AI) is fueling demand for data center capacity, already driven higher by the cascade of digital innovations over the past decade such as content streaming, cloud computing, machine learning (ML), Internet of Things (IoT), ecommerce and more. While other commercial real estate sectors are experiencing a decline in construction pipelines, data center development has reached an all-time high and will continue to grow to meet demand.
Contact us to locate potential sites for development.
Listing for Lease: Heavy Power, Dock High Loading, Fenced Parking, Warehouse and Office, and offered at a Low Lease Rate! See below.
This 10,000 square foot building includes a warehouse with 12 foot ceiling height, dock high truck loading well, a ramp to drive into the warehouse, and a naturally lit upstairs office area of 3,500 SF which includes a small kitchen for employee lunches. The views from the upper floor are a benefit.
This commercial space is located in the business friendly City of Vernon. They have top notch police and fire departments which are critical these days given the rising rate of crime and fires in Los Angeles County and other large metropolitan areas.
The building offers 400 amps of 480 Volt, 3 phase power which can drive a variety types of business machines. Whether garment cutting or hi tech data center processing for AI technology, this building offers a high amount of electricity for its size.
The space is part of a larger property which is fenced with a yard for parking. This offering is a stunning bargain with a competitive lease rate. Landlord pays taxes and insurance so tenant only pays rent plus utilities.
The Golden State currently has the most solar capacity installed in the country, along with an ambitious goal of achieving carbon neutrality by 2045. In keeping with this goal, the California Energy Commission (CEC) has updated the Building Energy Efficiency Standards to promote clean energy adoption statewide. As of January 1, 2023, the California Energy Code requires installing solar power and battery storage for new commercial builds.
Here’s what you need to know about the new requirements, and how PowerFlex can help you fulfill them.
Standards For New Commercial Buildings Have Changed
According to California’s updated Building Energy Efficiency Standards, all newly-constructed commercial buildings (with very select exceptions) must have a solar photovoltaic (PV) array and a battery energy storage system (BESS). This requirement applies to:
Hotels
Office buildings
Clinics
Restaurants
Medical buildings
Retail centers
Grocery stores
Convention centers
Schools
Theaters
Auditoriums
Industrial Warehouse and Manufacturing Factories
The requirement depends on several key facility and locational-based characteristics:
Solar: The minimum required solar will depend on your building type, size, and CA climate zone.
Storage: The minimum required storage (energy and power) will depend both on your minimum required solar system size and a coefficient determined by your applicable CA climate zone.
For example, a 175,000 sq ft single story big box retail store in Fresno, CA would be required to install ~500 kW-DC of solar and a 250 kW/2hr battery storage system* under the new rule.
Here is a great summary from the WSJ: Americans built up about $2.1 trillion in excess savings during the pandemic and its immediate aftermath, a cushion for household budgets and a boost for consumer spending. Since August 2021, they’ve drawn down about $1.9 trillion of that. “This implies that there is less than $190 billion of excess savings remaining in the aggregate economy. Should the recent pace of drawdowns persist—for example, at average rates from the past three, six or 12 months—aggregate excess savings would likely be depleted in the third quarter of 2023,” Federal Reserve Bank of San Francisco economists Hamza Abdelrahman and Luiz Oliveira write in a blog post.
The dwindling pandemic savings during 2023 makes me wonder if that is correlated with the dwindling industrial demand that started at the beginning in 2023 and continues here in Los Angeles. Tenant demand for warehouses has fallen sharply this year. Buyer demand has been dampened by the interest rate increases. If the pandemic savings do run out this year then I wonder if consumer spending will follow. If that is the case and consumer spending accounts for about ⅔ of GDP then a slowdown could materialize.
