Terreno Realty Begins $64M Redevelopment in Los Angeles
Terreno Realty Corp. has begun work on the $64 million redevelopment of 1855 W. 139th St., a 231,000-square-foot industrial property in Gardena, Calif. Plans call for the demolition and redevelopment of the two existing buildings.
The developer expects to complete the project by 2027. It will comprise three buildings totaling 228,000 square feet. Planned features include 34 dock-high and 17 grade-level loading doors and 332 parking spaces. The owner expects to achieve LEED certification.
Terreno Realty purchased the property back in 2017 for $37.6 million, according to CommercialEdge data. Its existing buildings were developed in three phases, in 1965, 1983 and 2003. The 11-acre asset features sky lights, climate control, fire sprinklers, cross docks and around 160 parking spaces.
Terreno recently executed a short-term lease for the existing building with an e-commerce firm, which will end at the beginning of 2026. The development is near the intersection of Interstate 105 and Interstate 110, allowing for easy access across the Los Angeles metropolitan area.
Current economic headwinds led to both investment and development activity dropping nationwide. According to a recent CommercialEdge report, Los Angeles ranked second for industrial transactions on a year-to-date basis through November—a total of $3.9 billion in sales was recorded. The metro’s development pipeline was much diminished, with only 4.4 million square feet of new industrial space underway in November.
At the end of last year, Terreno Realty completed a 191,000-square-foot industrial facility in Hialeah, Fla. The property is fully leased to an international logistics company.
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