LOS ANGELES — Bridge Industrial has completed the sale of Box Yard, a four-building, creative industrial business park in downtown Los Angeles. Rexford Industrial acquired the asset for $94 million.
Located at 2425, 2445, 2460 and 2535 E. 12th St., Box Yard offers a total of 261,528 square feet of flex space. At the time of sale, the property was 94 percent leased to a variety of tenants, including e-commerce, tech, entertainment/studio, fashion, arts and creative tenants.
The asset features 24-foot clear heights, dock- and grade-level loading for each unit and a fully gated and secured site. The property recently underwent interior and exterior renovations, including upgraded office finishes, LED lighting and warehouse air circulation fans, exterior paint, new signage, landscaping and improved site security. Gensler was the architectural firm for the renovations.
Andrew Briner, Bret Hardy, Jim Linn, Kevin Shannon, Scott Schmacher and Laura Stumm of Newmark represented the seller in the transaction.