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| Jay Soni |
The 21.6-acre site was acquired in June 2013 by an affiliate
of Xebec Realty Partners.
The site has
been successfully entitled for industrial use and construction will begin
immediately on three speculative buildings.
The first building will total approximately 88,349 square
feet, the second building will total approximately 75,278 square feet, and the
third building will total approximately 179,002 square feet.
The facilities
will have state-of-the-art features that include a 32-foot clear height and
ESFR sprinkler system.
“This is PCCP’s
first loan with Xebec Realty Partners,” stated Ron Bonneau, vice
president with PCCP, LLC. “Xebec has a successful 26-year track record for
building more than seven million square feet of infill industrial product and
we feel this quality project will help meet the market’s high demand for
much-needed space.”
10th Street Center is situated along the west side of Todd
Avenue near the 210 and the 605 freeways, which provide access throughout all
of Los Angeles County.
Xebec, in
partnership with PCCP, is addressing this pent-up demand for state-of-the-art
Class A warehouse facilities in the area through the development of the new
industrial park.
“We are thrilled to be forging a new relationship with PCCP
through this deal,” added Jay Soni, vice president of acquisitions for
Xebec. “We look forward to successfully developing the site in Azusa as well as
continuing to grow our relationship with PCCP in the future.”
Bonneau added: “The majority of the existing inventory in
the San Gabriel Valley is older product with compromised functionality, so new
product is highly sought after by users and should command strong activity.”
For a complete
copy of the company’s news release, please contact:
Darcie Giacchetto
Spaulding Thompson & Associates
949.278.6224
