LA Industrial Complex Offers Upside


January 8, 2021


The BoxYard

Bridge Development is pitching a business park in Downton Los Angeles to investors with value-added strategies.

The property, called The BoxYard, comprises four buildings totaling 262,000 sf in the city’s Arts District. Bids are expected to hit $90 million, or $341/sf. Newmark has the listing for Chicago-based BRIDGE, which renovated the complex last year.

The property is 77% occupied by eight tenants with a weighted average remaining lease term of 2.8 years. In-place rents are 43% below market, and the pitch is a buyer could boost income by leasing up vacant space and raising rents upon rollover.


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