Search
 

Overton Moore Plans $40M Development

CITY OF COMMERCE, CA-Developer Overton Moore Properties of Gardena, Calif., plans the business park on a recently acquired 47-acre parcel in a joint venture with Dallas-based Crow Holdings.

By Bob Howard | Updated on September 02, 2002

CITY OF COMMERCE, CA-Developer Overton Moore Properties of Gardena, Calif., plans a $40 million, 750,000-sf business park called Citadel Business Center on a 47-acre site that company recently acquired.

The 12-building project will be a joint venture with Dallas-based Crow Holdings Industrial Trust, according to Timur Tecimer, president of OMP, who said the development will answer the continuing demand for warehouse and distribution space and manufacturing facilities in the Los Angeles area.

The project site includes about 35 acres on the south side of Smithway Street and 12 acres on the north side. As opposed to the mammoth warehouses that many developers have erected, Overton Moore plans to construct small and mid-sized buildings for lease or for sale. Plans call for 11 new dock high buildings, ranging from 18,000 to 150,000 sf, with 24-foot clearance. The 12th structure will be an existing 217,000-sf building that will be renovated. Several prospective buyers have informally committed to about 50% of the project’s space, according to Rooney Daschbach, OMP’s senior vice president of marketing.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.