LOS ANGELES, CA – April 11, 2014 Trammell Crow Company, one of the nation’s leading developers and investors in commercial real estate, and joint venture partner Principal Real Estate Investors and lender Well Fargo Bank, have broken ground on the Clean Tech Manufacturing Center (CTMC), a 370,000 square foot Class A industrial campus located in Downtown Los Angeles. The campus offers the largest contiguous industrial space in Downtown Los Angeles and will feature three new start-of-the-art buildings. Amenities will include 100% secured and gated facilities, 32 ft. clear heights, 126 - 147 ft. concrete truck courts, 52 total dock high loading positions, 60 ft. speed bays, T-5 warehouse lighting, ESFR fire sprinkler system, and a highly sustainable Rainwater Harvesting water detention system. All three buildings are pursuing LEED for New Construction Silver certification by the U.S. Green Building Council. The property is located within ½ mile proximity to Interstate 10, Interstate 5, and the 60 Freeway. Completion is expected in late 2014.
“After sitting barren for three decades, this site is springing to life and helping us keep an important fashion manufacturer in the City of Los Angeles, while bringing in hundreds of good paying union jobs on the construction end," said Councilmember José Huizar. "I want to thank Trammell Crow for their perseverance and working with my office and the CRA in developing this challenging property. We look forward to welcoming Ambiance USA as they relocate and expand their world headquarters to the Cleantech site which, when complete in the coming months, will be loaded with environmentally advanced design features.”
“We are pleased to announce our groundbreaking on the Clean Tech Manufacturing Center, and applaud Councilman Jose Huizar, the Community Redevelopment Agency/Designated Local Authority and the Planning and Building & Safety Departments of Los Angeles for their vision and cooperation to help us move this project forward to turn this brownfield property into an economically viable property after 30 years of blight,” said Brad Cox, Senior Managing Director with TCC’s Southern California – Los Angeles Business Unit.
About Principal Real Estate Investors
Principal Real Estate Investors manages or subadvises $40.4 billion in commercial real estate assets. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
About Trammell Crow Company
Trammell Crow Company, founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of December 31, 2013, Trammell Crow Company had over $4.9 billion of projects in process and $1.5 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company offers large strategic joint ventures, opportunity funds, and other targeted investment options.
Trammell Crow Company is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). For more information visit www.TrammellCrow.com.
