When Harbor Associates LLC purchased a 126,000-square-foot industrial real estate portfolio in the South Bay for $55 million back in November, the team saw a redevelopment opportunity.
The portfolio, made up of four adjacent properties ranging in size from 17,000 square feet to 45,000 square feet, sits at 690-760 W. 190th St. The 7.5-acre site is adjacent to the 34 million-square-foot Gardena industrial submarket, which boasts a vacancy rate of less than 1%.
Recognizing the property’s proximity to both the ports of Los Angeles and Long Beach, as well as the 405/110 freeway interchange, Harbor eyed the upside in converting the space to accommodate truck parking – which over time has become one of the most promising economic drivers of the South Bay.