Colliers recently closed the sale of a large-scale 29-acre industrial infill site in Vernon, formerly operated by Smithfield Foods. The facility at 3049, 3095, and 3163 E. Vernon Ave., comprised of six existing buildings for processing, manufacturing and warehousing was primed for redevelopment.
A Colliers team led by Michael Kendall, Gian Bruno and Kenny Patricia advised on several aspects of the transaction on behalf of Smithfield Foods as well as Goodman North America – the buyer in this deal. John Carpin and Jimmy Martin from Colliers’ corporate solutions team were also retained to assist with future leasing efforts along with Vernon market experts Tom Condon , Alex Blecksmith ,and Matt Erickson .
Kendall commented that “due to scarcity of developable land in Central LA submarket; industrial land accumulation like this has not been seen over ten years” adding that “this transaction creates a generational opportunity to build one of most significant industrial facilities worldwide”
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