70.2 F
San Fernando
Saturday, Mar 2, 2024

Bridge Industrial to Develop North Hollywood Warehouse

Bridge Industrial has acquired a nearly 5-acre property in North Hollywood located adjacent to the Hollywood Burbank Airport for an undisclosed sum to be the future home of its 106,526-square-foot development Bridge Point North Hollywood.

The acquisition marks the Sawtelle Japantown-based company’s first foray into the San Fernando Valley submarket.

Bridge acquired the site, located at 6950 North Tujunga Ave., in an off-market transaction from a private seller. Paul Sims with Cushman & Wakefield represented the seller in the transaction.

Bridge Point North Hollywood will be a warehouse facility offering 10,000 square feet of turnkey office space across two stories, dock packages and warehouse lighting. It will also feature 32-foot clear heights; 12 dock-high doors; a fully secure 135-foot truck court; an ESFR sprinkler system; and parking for 64 cars. The facility’s contemporary architectural design will include clerestory glass and extensive landscaping.

Bridge will begin demolition at the site this month. Bridge Point North Hollywood is scheduled to be delivered during the first half of next year.

“We’re eager to deliver this state-of-the-art facility for both traditional logistics users as well as the increasingly discerning media companies and their supporting industries seeking modern industrial facilities in the San Fernando Valley submarket,” Heather Crossner, senior vice president of development at Bridge Industrial, said in a statement. “We are grateful to the City of Los Angeles for seeing the value in this development and working with Bridge to fully entitle Bridge Point North Hollywood.”

Sims with Cushman & Wakefield will work closely with Kevin Finnegan and Greg Stumm of Bridge Industrial to market the project for leasing.

“This acquisition falls in line with Bridge’s long-held strategy of developing well-located urban infill industrial properties as we continue to see record-low vacancies in markets such as Los Angeles,” said Greg Woolway, senior vice president of investments at Bridge. “The demand from a variety of warehouse users, but particularly those in the logistics, manufacturing, and studio entertainment sectors, keeps us confident that this thoughtfully-designed development will meet the needs of a top-tier tenant.”

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is Interim Editor at the Los Angeles Business Journal and the Inside The Valley. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

Featured Articles

Related Articles