Bridge Development Buys Industrial Facility
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 & Associates represented both the seller, Atlas Capital Group, and the buyer in the transaction.
Located at 2445 E. 12th 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.
“Industrial 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,” said Brian Wilson, partner with Bridge Development Partners, in prepared remarks. “The 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.”