From left: Brian Wilson, and Steve Poulos with the property
Bridge Development Partners is growing its already massive industrial portfolio with a new development that will rise just south of Downtown Los Angeles, in what remains the most active industrial market in the country.
The 117,400-square-foot project is under construction at 4224 District Boulevard in the city of Vernon, the company announced. The property, called Bridge Point Vernon, was designed by Herdman Architecture + Design, and it is being built by Houston-based general contractor Arch-Con Corporation.
The development also calls for 5,000 square feet of office space and a 145-foot secured truck court. It is expected to be complete by the fall. A seven-story cold storage building from the 1920s was demolished to make way for the new project.
The leasing agents are Scott A. Heaton and Connor McRae with Colliers International.
Bridge Development Partners was founded in Chicago in 2000, and developer Brian Wilson opened the firm’s L.A. wing in 2015. Since then, the company has undertaken nearly two dozen projects with more than 11 million square feet in L.A.
In February, the firm purchased a 12-acre property for $19 million in the industrial capital of the country, the Inland Empire. In January, Bridge Development paid $68 million for a warehouse with 286,000 square feet of space in the Arts District. And last year, the firm sold a 512,490-square-foot warehouse that it built in Torrance for $102.5 million to Morgan Stanley’s Prime Property Fund.
L.A.’s industrial market continues to reign supreme, both among U.S. investors and those from outside the country.
Vernon is the smallest city in California, with fewer than 125 residents, and about six square miles of space that’s mostly industrial. Last year, Pima Alameda Partners received permits for a 248,700-square-foot project there.
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