Stream Realty Breaks Ground on LA Industrial Complex
When complete, the campus will total 740,000 square feet.
Stream Realty Partners has broken ground on 101 Logistics Center, a 738,000-square-foot, four-building industrial complex in Oxnard, Calif.
The facilities will rise on 41 acres at 2921 Sakioka Drive, 2721 Sakioka Drive, 1711 Synergy Circle and 1611 Synergy Circle. Stream acquired the site in 2022 and entitled the project the following year.
The Class A development is to include buildings ranging from 105,803 to 304,215 square feet. They will feature from 32- to 40-foot clear heights, abundant dock-high loading, heavy power capacity, fully secured truck courts and ESFR sprinkler systems.
READ ALSO: Why SoCal Industrial Still Yields Opportunities
Situated near Route 101 and Oxnard Transit Center, which serves Amtrak, Metrolink, Greyhound and Gold Coast Transit, 101 Logistics Center will provide easy access across the Los Angeles metropolitan area. The Port Hueneme is some 9 miles away.
Stream Senior Director Nick Kreuter, Director Andrew Warren and Scott Sowanick spearhead the project’s development. Newmark Vice Chairs John DeGrinis and Patrick DuRoss, Executive Managing Director Jeff Abraham and Associate Director Javier Galvan are leading the leasing efforts.
Los Angeles’ industrial scene
Los Angeles’ industrial market has remained resilient, like most western markets. The metro saw a notable year-over-year growth in construction activity, its pipeline expanding to 4.8 million square feet as of April, according to a recent CommercialEdge report.
Los Angeles led the nation with the highest sale price at $300 per square foot and recorded one of the largest industrial transaction volumes nationwide at $671 million year-to-date as of April. Meanwhile, the vacancy rate in the metro stood at 8.7 percent, just under the national benchmark (8.8 percent).
You must be logged in to post a comment.