CARSON, CA-Watson Land Co. has broken ground on a new 225,000-square-foot industrial building that it has pre-leased to international third party logistics firm OHL. The five-year lease is valued at more than $10 million.
The LEED-certified property will be constructed on approximately 12 acres of land at 2255 E. 220th St. in the master-planned Watson Corporate Center and is slated for completion in February 2012. It will feature 50 trailer storage spaces, a 135-foot and 185-foot truck turning radius with 100% concrete, a 32-foot ceiling clearance and abundant use of clerestory glass.
According to Lance Ryan, vice president of marketing and leasing with Watson Land, the sustained increase in traffic at the ports of Los Angeles and Long Beach has led to high demand for new class A industrial product within the supply-constrained South Bay market. The market trend continues to be a flight to quality and to larger buildings, he adds.
Doug McDowell of Pro Venture and Lewis Latimer of L2 Cos. represented OHL. Watson Land Co. was represented in-house by Ryan and Mike Bodlovich.
The project represents the second new ground-up development for Watson Land Co. in 2011 following the groundbreaking of a 616,000-square-foot industrial building at Watson Commerce Center Redlands in Q1. The Redlands development was the first speculative industrial building to break ground in the Inland Empire since 2009.
This is OHL’s third lease at Watson Corporate Center totaling more than 550,000 square feet. Most recently OHL secured a 148,000-square-foot distribution center in Q1 2011. Based in Brentwood, TN, OHL is one of the largest 3PLs in the world, providing integrated global supply chain management solutions including transportation, warehousing, customs brokerage, freight forwarding, and import and export consulting services.
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