Terreno Realty Corporation — a San Francisco-based owner and operator of industrial real estate — kicked off the redevelopment of a 231,000-square-foot, two-building industrial property on an 11.1-acre lot in Gardena, Calif. Expected to be completed in 2027, the redevelopment will turn the asset into three industrial buildings totaling 228,000 square feet of Gardena industrial space.
Located at 1855 W. 139th St. and well-positioned logistically close to I-105, I-405 and I-110, the property’s location in Gardena places it close to the Torrance, Calif., industrial market. Additionally, Gardena is located approximately 15 miles from the ports of Los Angeles and Long Beach. Notably, with industrial space in Los Angeles and surrounding areas being historically scarce due to low amounts of developable land, the metro is one of the most competitive markets in the nation.
The two buildings to be demolished are currently leased short-term to an e-commerce company. After the redevelopment, the property will feature 34 dock-high and 17 grade-level loading positions, as well as parking for 332 cars. Terreno is also targeting a LEED certification for its redeveloped property — a trend that has become more commonplace in other commercial real estate asset types besides office.
Terreno Realty specializes in operating industrial real estate in high-demand port markets. It has 257 buildings in Los Angeles, San Francisco, Seattle, the New York/New Jersey area and Washington, D.C.
Terreno’s Gardena redevelopment is the latest investment by the company in the Los Angeles area. In Q4 2023, the company dished out more than $45 million for a two-building industrial property in Redondo Beach, Calif., six miles southwest of Gardena. Terreno’s business activities thus far in January include the purchase of a Bellevue, Wash., industrial property for approximately $6.5 million, as well as the full pre-lease of its Countyline Corporate Park Phase IV Building 39 in Hialeah, Fla., for 10 years.
