Trammell Crow Completes Purchase of Defense Plant

Mayor Richard Riordan announced Monday that Trammell Crow Co. has completed the purchase of a former defense industry plant in Van Nuys, with plans to develop it into a light-industry and high-tech manufacturing campus.

The development of the 24-acre site at 16555 Saticoy St., formerly owned by Marquardt Co., has been a high priority for Riordan. He designated it part of Genesis L.A., a program to find a use for a dozen large industrial properties scattered across the city.

Councilman Joel Wachs said the project will provide up to 1,200 high-paying jobs.

At its peak, the Marquardt plant employed 5,000 people making rocket engines, bombs and tails for the B-1 bomber.