Firm Selected to Build Industrial Park

The Alhambra City Council on Monday selected a Santa Monica developer to build a 12-acre industrial park that officials hope will attract local businesses looking for larger space.

Acting as the city’s redevelopment agency board, the council promised Ellis Sloan Properties that it will not negotiate with any other developer for five months while final details are worked out.

The Koll Co. of Los Angeles also had bid for the project, but city-paid consultants said its proposal, which called for a longer exclusive negotiating time, was less advantageous.

The land, vacant except for two small buildings, is east of Marengo Avenue, between Maple Court and Orange Street. It is owned by Southern California Edison Co., which is said to be interested in selling.

Ellis Sloan proposes to build 20 concrete buildings totaling 203,300 square feet, and then sell or lease them. Total construction and land costs are estimated at $14 million, said Mark Sloan, the company’s general partner. It would take about 10 months to build the industrial park, he said.

Because the redevelopment agency does not have enough money to help with the land purchase, it has agreed to rebate all property taxes to the developer for up to 10 years, said Michael Martin, Alhambra Redevelopment Agency deputy executive director. The rebated taxes would be about $1.5 million, Martin said.

“The economic payoff will be long term,” Martin said. “The short-term payoffs are jobs created on the site and the chance to retain businesses that were thinking of moving.”

Martin said that several companies, including a printing business and a medical supplies wholesaler, have expressed interest in moving to the industrial park.