{"id":1004296517,"date":"2019-02-05T07:04:25","date_gmt":"2019-02-05T15:04:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004296517"},"modified":"2019-02-05T07:04:25","modified_gmt":"2019-02-05T15:04:25","slug":"bridge-development-buys-industrial-facility-for-68m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bridge-development-buys-industrial-facility-for-68m\/","title":{"rendered":"Bridge Development Buys Industrial Facility for $68M"},"content":{"rendered":"<div id=\"attachment_1004296523\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/TheYArdBoxMAtrix.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004296523\" data-attachment-id=\"1004296523\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bridge-development-buys-industrial-facility-for-68m\/theyardboxmatrix\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/TheYArdBoxMAtrix.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"The Box Yard\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Box Yard&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/TheYArdBoxMAtrix.jpg?w=800\" class=\"wp-image-1004296523 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/TheYArdBoxMAtrix.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/TheYArdBoxMAtrix.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/TheYArdBoxMAtrix.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/02\/TheYArdBoxMAtrix.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004296523\" class=\"wp-caption-text\">The Box Yard<\/p><\/div>\n<p>Bridge Development Partners has purchased The Box Yard, a 261,528-square-foot industrial facility in Los Angeles, for $68 million, Yardi Matrix data shows. Lee &amp; Associates represented both the seller, Atlas Capital Group, and the buyer in the transaction.<\/p>\n<p>Located at 2445 E. 12<sup>th<\/sup> St., the industrial facility is near Interstate 10, approximately 2 miles from downtown Los Angeles. The facility is also situated close to the Arts district, as well as to the Financial district. Additionally, the asset is in a residential area with a pipeline of more than 15,000 units.<\/p>\n<p><em>\u201cIndustrial users have been displaced as a result of the large influx of residential, retail, hotel, and office development in the Arts District of Los Angeles,\u201d<\/em> said Brian Wilson, partner with Bridge Development Partners, in prepared remarks. <em>\u201cThe Box Yard is arguably the last pure industrial building located in such proximity to the Arts District, and the vital business and residential districts of downtown Los Angeles.\u201d<\/em><\/p>\n<p>Built in 1988, The Box Yard occupies 7.5 acres and features an 11-unit industrial campus and a 24-foot clear warehouse space. The buyer plans to upgrade the facility by improving its exterior and by renovating the building\u2019s two vacant suites. Other upgrades will include electric vehicle charging stations, new signage, new exterior lighting and the renewal of the parking areas.<\/p>\n<p>Lee &amp; Associates&#8217; brokerage team included Principals Mike Smith and Jim Halferty. In January, the firm also arranged the <a href=\"https:\/\/www.commercialsearch.com\/news\/lee-associates-brokers-la-area-inn-sale\/\">sale of a Good Nite Inn<\/a>, a 102-key courtyard-style hospitality asset in Whittier, Calif.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lee &#038; Associates facilitated the sale of a 261,528-square-foot industrial asset located in Los Angeles, near the city\u2019s downtown. The firm represented both the seller and the buyer in the deal. <\/p>\n","protected":false},"author":871,"featured_media":1004296523,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1594,21742,15],"tags":[34456,32762],"class_list":["post-1004296517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-los-angeles","category-latest","category-west","tag-bridge-development-partners","tag-lee-associates"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bridge Development Buys Industrial Facility for $68M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bridge-development-buys-industrial-facility-for-68m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bridge Development Buys Industrial Facility for $68M\" \/>\n<meta property=\"og:description\" content=\"Lee &amp; Associates facilitated the sale of a 261,528-square-foot industrial asset located in Los Angeles, near the city\u2019s downtown. 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