Tag Archives: vernon

Available Property, Food Industry

Commissary Industrial Commercial Kitchen For Lease, Los Angeles

Leave a comment
  • Shared Industrial Commercial Kitchen Commissary.
  • 5,000 to 9,000 SF portion of a larger 18,000 SF building.
  • All of below property features to be shared.
  • 2,400 SF Cooler and 1,300 SF Freezer.
  • 60′ Hood, Clarifier / Grease Trap, Floor Drains.
  • 2 Fenced Parking Lots.
  • Ground Level Truck Loading Door.
  • 800+ Amps, 240/600 V, 3 Phase Power.
  • Food Processing Health Dept Permit.
  • Ideal for meal kit prep, restaurant commissary, party event catering.
  • Prefer afternoon and evening shifts as owner primarily works early morning.
  • Downtown Los Angeles next to City of Vernon.
  • Off 10 Freeway at Alameda St.
  • Sublease term of 4 years.
  • Rent to be determined.
  • Contact us with interest.
Commercial kitchen cooking and prep area
Refrigerated cooler
Freezer for storage of frozen foods
Racked dry storage area that is 23 foot high
Wash room, scullery with dual sinks and floor drains
Available Property, Food Industry

Cold Storage Freezer Building for Lease in Vernon, Los Angeles County

Leave a comment
  • Racked Cold Storage Space
  • ±46,000 SF of Freezer/Cooler Space, 0° to 52° Convertible
  • 37° to 40° Cooler with Trench Drain for re-packing
  • ±5,417 SF Refrigerated Dock, 40°
  • 9 Dock High Loading Positions
  • ±4,000 SF of Corporate Offices
  • 55,000 Square Feet of Total Building
  • $2.50/SF NNN

Contact us with interest.

Market Trends & Indicators

High Land Value As a Percentage of Total Property Value in Los Angeles

Leave a comment

In the WSJ article, The U.S. Is Running Out of Land, a professor of finance who studies land values cites that “Land now accounts for 47% of U.S. home values…That is up from 38% in 2012 and less than 20% in the early 1960s.”

So that intrigued me and I pulled a sample of 1,315 industrial zoned parcels from Downtown Los Angeles to the City of Vernon. See below graphic. Dividing the Los Angeles County Assessor Land Value amount by the Total Assessment results in 71% of these industrial properties’ value is the land component. The Total Assessment includes improvements such as warehouse and manufacturing buildings constructed on the land.

That is a strikingly high percentage for land value but should not be surprising given the rapid increase in prices per square foot for land sales in the last decade. In the top section of the graphic, which is the DTLA Arts District, land values have ranged from $300-450/SF in recent years. In the bottom section, City of Vernon land was not long ago $50-100/SF and is now approaching $200/SF.

The Central Los Angeles Industrial Market has been an Infill Market for many years which has resulted in rapid increases in land values. If you own land in this area feel free to contact us.

Note

Curling in a Vernon Warehouse

Leave a comment
Curling stones for points on ice

In 2020 this 42,000 square foot concrete tilt-up warehouse was leased to Southern California Curling Center. It was built in 1997 with 24 foot ceiling height with a total lot size of 75,000 SF in the industrial enclave of the City of Vernon.

The Hollywood Curling Club, a nonprofit for 13 years, is based in the Southern California Curling Center, which is quickly becoming the Western hub for the sport. Opened in August 2021, the center is a 42,000-square-foot converted warehouse featuring six “sheets” of “dedicated ice.”

Curling aficionados say the center is the biggest facility in the Western United States that features dedicated ice and sheets built and maintained exclusively for curling. The center provides the stones and hosts leagues, tournaments and corporate events, along with learn-to-curl training sessions.

2022-02-09 LA Times article

Available Property, Food Industry

Freezer – Cooler Warehouse For Lease in Los Angeles.

4 Comments

Dock High Truck Loading

An approximately 20,000 square foot concrete warehouse with 5,200 square feet of freezer /cooer boxes is expected to come available as a listing for lease in several months. It is an industrial warehouse with cold storage and dry storage that can accommodate 10 dock high refrigerated truck trailers – this is an unusually high number of loading positions for a building of this size. Some freezer could possibly be converted to coolers.

There is plenty of yard and parking space given the large 43,000 square foot land parcel. Offices with restrooms included. Located the City of Commerce near the 5 Freeway about 10 minutes from Downtown Los Angeles (DTLA) and the City of Vernon.

Ideal for refrigerated food storage and distribution. Perishable foods such as prepared meals, poultry, seafood, beef, frozen foods, produce (fruit and vegetables).

Register preliminary interest by using the contact page.

Market Trends & Indicators

Sold Warehouses Q4-2020 in Los Angeles

Leave a comment
Map of sold buldings

Below is a list of industrial real estate listings that were sold in the 4th Quarter of 2020 over 10,000 square feet in size in the Central Los Angeles industrial submarket. Information includes: buyer, seller, sale price, square footages, and property features for warehouses and manufacturing buildings.

Industrial_Sale_comparables_Central_Los_Angeles_Q4-2020Download
Deal File

22 Acre Site Sells in Vernon

Leave a comment

TriMas Corp. sells a 22-acre site at 5215 S. Boyle Ave. in Vernon to AMB Property Corp. Originally developed from the 1940s through the 1960s to support Norris Industries defense operations, 5215 S. Boyle Ave. includes more than 400,000 square feet of heavy manufacturing buildings with several existing leases currently in place.

According to an SEC filing, the purchase price was for $13 million, all cash. AMB would not confirm the price. AMB plans to market the vacancies at the property in the short-term with a long-range goal of repositioning the site in order to maximize the significant upside potential in the land enhancing the value of the parcel.

The purchase represents AMB’s first development project in Vernon, a city that consists almost entirely of industrial properties located approximately five miles southeast of Los Angeles. The city is home to more than 1,800 businesses which employ approximately 50,000 individuals. Vernon also consistently boasts one of the lowest vacancy rates in the greater Los Angeles area.

AMB purchased the site for substantially below current land sale value for clean & graded sites ready for construction.

Deal File

Forever 21 Purchases Two Large Buildings

Leave a comment

Forever 21, the large garment manufacturer of young women’s clothing, has acquired two large buildings in the past year.  The first building is the 370,000 square foot Overland Terminal facility at the intersection of Alameda St and Olympic Blvd in Downtown Los Angeles with a price of $20 M.  This multistory building has parking and dock high loading.  The second purchase was in the City of Vernon on Sierra Pine Ave.  This collection of several Class B buildings totals near 130,000 square feet.  Forever 21 was the tenant in the buildings and the sale price was approximately $6.5 M.

The company is based in Downtown Los Angeles and occupies several hundred thousand square feet of buildings at Alameda St and 20th St.

Deal File

City of Vernon Purchases 11 Acre Site – To Redevelop

Leave a comment

The City of Vernon recently acquired the 11 acre Smurfit-Stone (formerly Container Corp) site on 57th Street, after the container manufacturer decided to close the Vernon plant and consolidate operations into other facilities.  The City expects to have a contractor demolishing the existing facilities on the site beginning later this month.  The City’s Industrial Development staff is currently in discussion with several large manufacturers about future use of the site.

The City has purchased several large land sites over the past several years in order to control the destiny who occupies the sites.  The City prefers companies that manufacture, employ more persons than warehousing operations, and that use copious amounts of the power that the City sells.  This interference by the government in the free market of real estate deals definitely rubs some people the wrong way.