Bridge Development Partners buys warehouse near Arts District for $ 68 million
Bridge Development Partners paid $ 68 million to Atlas Capital Group for a large warehouse property near Downtown Los Angeles.
The development, called BoxYard, consists of five buildings with a total leasable flexible area of 286,000 square feet, according to the website, which says the Atlas has recently been renovated. South of the Art Zone, 2425 E. 12th Street address is sitting on 8.2 acres.
The tenants include clothing wholesaler Special A, women’s clothing retailer People’s Project and Berrics, a popular skateboard park.
Located in Chicago, Bridge is developing a handful of industrial projects in Los Angeles, including Long Beach, Torrance and Vernon. In August, the company sold $ 100 million in Morgan Stanley’s Prime Property Fund for a new construction warehouse of 512,000 square meters in Torrance.
The company also sold 10 property portfolios to Duke Realty Corporation for $ 700 million in 2017.
Source: The Real Deal
Melike Vodina / realestatecoulisse.com