Colliers Negotiates 22.6 Acre La Mirada Land Sale to Duke Realty
Preliminary Plans by the Developer Call for a 475,000 SF State-of-the-Art Logistics Facility
With demand reaching record levels for urban industrial development sites that can accommodate new, state-of-the-art logistics facilities to meet ever-faster e-commerce delivery timelines, Duke Realty Corp. has purchased a former Chevron USA-owned parcel of land in the Los Angeles County suburb of La Mirada, California, Colliers International has reported. Terms were not disclosed.
Duke Realty, one of the nation’s leading owners, developers, and managers of both industrial and healthcare properties, has unveiled preliminary development plans for a 475,000-square-foot, state-of-the-art cross-dock logistics facility with up to 110 dock-high loading doors and two large concrete truck courts.
Colliers Senior Executive Vice President Clyde Stauff, based in the firm’s Irvine office, and downtown Los Angeles-based Managing Director Bret Hardy of the firm’s Institutional Services Group, represented both Duke and Chevron USA in the transaction.
Situated along the border of Los Angeles and Orange counties, the new facility would be key in meeting the growing demand for “same-day” and “just-in-time” deliveries that are increasingly being offered to consumers and businesses by e-commerce companies, Stauff noted.
“We are delighted to have purchased this property and look forward to constructing one of the few state-of-the-art distribution buildings in close proximity to central Los Angeles,” said Duke Realty Senior Vice President Chris Burns. “The location will facilitate a quick turnaround for trucks to the ports of Los Angeles and Los Angeles, as well as deliveries to the densely populated central Los Angeles and Orange County markets.”
Located at 16301 Trojan Way, the site has direct access to the complex network of local freeways, interstate highways and state roadways that intersect and connect throughout the nation’s largest population center. It also has direct access to the region’s major airports, railroads and the twin ports of Los Angeles and Long Beach.
“When developed, this will be one of the largest new distribution facilities built in either Los Angeles or Orange counties in recent years,” said Stauff. “This facility will provide an exceptional opportunity for a logistics tenant to operate a state-of-the-art, centralized and robotized distribution center in a location that will dramatically decrease transportation costs and trip times for the increasingly faster deliveries now being routinely offered to consumers and businesses alike.”