Montebello Metro Center Is Under Construction
Construction is underway on three speculative industrial buildings totaling 400,000 square feet in Montebello near the newest station on Metrolink’s rail line connecting Los Angeles and Riverside.
Atlanta-based developer IDI bought the 19-acre property on Flotilla Street from Chevron Land & Development Inc. and expects to spend $24 million on the project by the time it is completed early next year. Brokers Scott Heaton and Phil Norton of Colliers Seeley represented IDI in the deal and are exclusively marketing the development, known as Montebello Metro Center. Chevron represented itself in the land sale.
Industrial vacancies in the area have averaged 5.3% over the last year, according to Colliers Seeley.
Montebello Metro Center will be the 11th industrial project that IDI has completed in Southern California since 1995. It will include a 320,000-square-foot logistics facility.
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