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GARDENA, CA-The Irvine office of Atlanta-based Oakmont Industrial Group has kicked off construction on a 139,674-sf infill project called Atlas Logistics Centre. The new class A warehouse and distribution facility is going up on a 7.68-acre site at the southwest corner of Avalon Boulevard and Rosecrans Avenue, at 14439 Avalon Blvd.
Tim Howard, executive vice president in Oakmont's Irvine office, tells GlobeSt.com that the company is marketing the project for sale or for lease. The site formerly was occupied by an oil field pump manufacturing facility comprising four buildings that Oakmont razed to make way for the new development.
Oakmont acquired the property in an off-market deal in its search for Los Angeles area infill industrial projects. The location is in the heart of the South Bay industrial market, close to Southern California's ports, bordered by the 110 Freeway to the west, the 91 Freeway to the south and the 105 Freeway to the north.
Howard says that Oakmont expects to complete the building by the end of this year. The Los Angeles-based project team includes CCA Architects, Norm Wilson & Sons General Contractors and Thienes Engineering. Bank of America provided the construction financing.
The listing agents for the project are Bret Quinan and John McMillan of Cushman & Wakefield. McMillan comments that the team is targeting companies that require a class A industrial facility with access to the Los Angeles International Airport and the ports, plus the capability of serving the Los Angeles basin.
Howard tells GlobeSt.com that the Atlas Logistics Centre project offered Oakmont the opportunity to "redevelop a site by replacing old, functionally obsolete buildings with a new, better-engineered product." Oakmont has a number of other projects either under way or planned in Southern California. The company, founded in 1996, develops warehouse/distribution facilities on both coasts, with a development pipeline totaling approximately 8.5 million sf.
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