April 2018
Since its inception in 2003, Seventh Street has developed numerous successful and award-winning projects totaling approximately 2,500,000 square feet in over 50 buildings in various cities including Irwindale, Pomona, Riverside, and San Bernardino. Below, Seventh Street’s newest Irwindale Project is highlighted as well as two prior projects the company has completed in Irwindale. Seventh Street’s newest project, called the Alderson Business Park, is a 10-acre, 5-building, 195,000 square foot master-planned office and industrial project planned for the Southeast Corner of Los Angeles Street and Alderson Avenue. The project is just one block north of the Baldwin Park Metrolink/Bus Transportation Center. Five state-of-the-art industrial buildings ranging in size from 28,250 square feet to nearly 50,000 square feet are under construction and expected to be completed in late July 2017. Each building will have 5,500 square feet of two-story executive offices and ample parking which can accommodate manufacturing and distribution companies. The buildings will feature attractive Mission-style architecture and are expected to bring five new job-producing businesses to Irwindale. Seventh Street has been a member of the Irwindale Chamber of Commerce for 13 years.
Seventh Street worked closely with the residents and City staff of both Irwindale and Baldwin Park to create a project all will be proud of and which will be an outstanding addition to the neighborhood. For example, along Alderson Avenue fronting the project, there will be an over-standard 34-foot setback to the buildings which will include a cobble stone-lined dry creek bed that will be surrounded by extensive landscaping, a nine-foot sidewalk and new public fire hydrants replacing the inadequate current sidewalk and fire protection. Additionally, as part of the land acquisition, Seventh Street worked with the City of Irwindale to help the AMVETS Post #113 gain ownership of their current facility adjacent to the project so they can continue their 56-year history of serving veterans.
Seventh Street’s two prior projects in the City of Irwindale are the Huy Fong Foods facility and Speedway Business Park. Huy Fong Foods, one of the largest and best known manufacturers of sriracha hot sauce in the world, selected Seventh Street Development in February 2008 as development manager for its new headquarters and food manufacturing facility. The building at 655,000 square feet is the largest building ever constructed in the City of Irwindale and features sustainable design elements. Construction began in October 2010 and the project was completed in the Fall of 2011. Seventh Street was responsible for all aspects of the project including site selection and acquisition, entitlement, design, permitting and construction management. (Seventh Street was not involved in the design and installation of the processing equipment.) This project was awarded both “2012 Los Angeles County Industrial Project of the Year – LA Business Journal” and “2012 California Community Redevelopment Agency Award of Excellence – Best Commercial/Industrial Project.”
Another Irwindale project completed by Seventh Street is the Speedway Business Park, a 4-acre master-planned industrial park located near the intersection of the 605 and 210 Freeways which was completed in 2006. The project was the first project constructed under Irwindale’s Commercial and Industrial Design Guidelines. Speedway Business Park is an architecturally distinctive mission-style campus consisting of four freestanding buildings totaling 85,000 square feet.
Seventh Street Development is named after the historic Seventh Street Produce Market in Downtown Los Angeles, where the two founding principals first met. Its managing principal, Craig Furniss, has over 30 years of broad development experience and is personally engaged in each project. Seventh Street takes pride it in reputation for personal integrity, fast action, and creative and flexible transaction structures as well as the positive impacts their developments have on local communities. Their developments have created thousands of good paying jobs in the communities that most need them.
Community Services:
Mr. Furniss is an active civic leader in his community serving as both a leader and volunteer at the Orange County Rescue Mission in Tustin. On Saturday mornings, he tutors residents who are working toward their high school diplomas. He also serves as a liaison between his church, Trinity Presbyterian Church in Santa Ana and the OC Rescue Mission engaging volunteers in mentoring roles, preparing meals, hygiene kits, packing food boxes, and serving meals to the homeless. At his church, Mr. Furniss is a leader on the Community Ministries and Men’s Ministries teams.
Chamber of Commerce Activity:
Seventh Street has also been a long-time member of the Irwindale Chamber of Commerce and has been a past supporter of the Irwindale Educational Foundation.
Alderson Business Park
Irwindale, California
193,000 Square Feet (5 Industrial Buildings)
State-of-the-Art Industrial Park in San Gabriel Valley Breaks Ground
Seventh Street Donates $2.5M to Veterans as Part of Project
LOS ANGELES, CA, December 7, 2016 – Seventh Street Development and Cushman & Wakefield joined officials from the City of Irwindale and the City of Baldwin Park on December 6, 2016 to celebrate the groundbreaking of Alderson Business Park, a 10-acre, 195,130-square-foot industrial development in Irwindale, California. It is one of only two speculative industrial developments in Irwindale in the last 10 years.
The groundbreaking ceremony comes after nearly two years of effort by the City of Irwindale and Seventh Street Development, a privately held real estate development firm that has been a member of the Irwindale Chamber of Commerce for 12 years. Dignitaries presiding over the Tuesday morning ceremony were: Irwindale Mayor Mark Breceda; Irwindale Mayor Pro Tem Albert Ambriz; Irwindale Councilmember Manuel Garcia; Irwindale Councilmember Manuel Ortiz; Irwindale Councilmember Larry Burrola; Baldwin Park Councilmember Cruz Baca; Baldwin Park Councilmember Ricardo Pacheco; Irwindale Planning Commissioner Patricia Gonzales; Irwindale City Manager John Davidson; Baldwin Park Chief Executive Shannon Yauchzee; Irwindale Community Development Director Gus Romo; Team AMVETS of California Department Commander Enrique Rudino, and American Veterans Post 113 Commander Jerry Martinez. On the eve of the 75th anniversary of the Pearl Harbor attack, the ceremony was also attended by a large number of Veterans including four that served in WWII.
The Alderson Business Park site is located on Alderson Avenue and Los Angeles Street immediately adjacent to American Veterans (AMVETS) Post 113 Headquarters and Event Center, a 600-member post that has been operating for 57 years. AMVETS had been leasing their 2.33-acre property from the City of Irwindale Redevelopment Agency (RDA). When the State of California required the RDA to sell all of its properties and AMVETS was in danger of losing their lease, an entity controlled by Seventh Street Development made a donation of $2.5 million to the AMVETS California Charities which ultimately allowed Post 113 to purchase their headquarters facility.
“It was about investing in the community,” said Craig Furniss, President at Seventh Street Development. “AMVETS used the money to buy the property from the City of Irwindale RDA and now they will have it forever. We have the 10-acre development with this great project and a happy and stable neighbor. It’s a win-win situation.”
Mayor Mark Breceda said, “This development will not only bring five new businesses to town, but allows us to make Irwindale the permanent home to AMVETS Post 113 who have been here for over 50 years. Alderson Business Park gives us the best of both worlds by allowing us to promote new business within our community while at the same time honoring our veterans.”
The state-of-the-art industrial complex featuring Mission-style architecture will be comprised of five freestanding buildings that range from 28,420 to 49,380 square feet and is scheduled for completion in June 2017, with spaces available for lease. Each building will feature 5,570 square feet of two-story executive office, large fenced private yards, 26-foot minimum clear height, dock-high and grade level loading, ESFR sprinkler systems, and ample parking. The project is optimally situated on the Irwindale/Baldwin Park border within close proximity to the Baldwin Park Metrolink Station/Bus Center and the I-605, I-10, and I-210 Freeways.
“There are very few speculative industrial developments for smaller, freestanding spaces which makes Alderson Business Park a unique project,” said Ty Newland, Senior Director in Cushman & Wakefield’s Ontario office who is handling the leasing of the project. “With vacancy at a historic low of 0.9% in the San Gabriel Valley, this property should draw a lot of interest from users in the marketplace, especially considering Alderson’s new construction, large private yards, and ample office build-outs.”
Seventh Street Development has been the most active industrial developer in the San Gabriel Valley in recent years, having completed projects such as the 85,000-square-foot Speedway Business Park (a previous speculative industrial development in Irwindale), the 650,000-square-foot Huy Fong Foods headquarters and manufacturing plant (the largest single building ever built in Irwindale), and the four-phase 2,000,000-square-foot Mission 71 Business Park in Pomona.
Click here to download a rendering of Alderson Business Park.
BUSINESS WIRE
March 22, 2016
LONG BEACH, CA–Farmers & Merchants Bank (F&M), a specialist in commercial banking and small business lending announced today, that it, provided the $21.5 million construction loan for Seventh Street Development’s Mission 71 West Business Park project in Pomona, California. The project recently won second place in the Industrial Category at Los Angeles Business Journal’s annual Commercial Real Estate Awards.
Awarded for fiscally transforming the region and restoring pride to the local community, the Mission 71 West Business Park features four industrial buildings totaling 494,935 square feet and is now home to more than 615 permanent employees. The Federal Government originally used the land as a Weapons Manufacturing Facility until 1997. By 2007, the building on site was vacant and had fallen into disrepair. Seventh Street acquired the site in June of 2013 and commenced construction the following summer after finalizing their loan negotiations with F&M. The architecture includes energy efficient and sustainable design features.
“We are pleased to hear a project F&M helped finance has made such a positive impact on the local community,” said W. Henry Walker, President of F&M. “The Mission 71 West Business Park will help ensure long-term growth and profitability for the property and has already proven to be a valuable asset for the owners and the community alike.”
For the past 21 years, the Los Angeles Business Journal has honored developers, architects and general contractors for the most notable commercial real estate projects. Craig Furniss, President of Seventh Street Development, the project developer, accepted the award on behalf of the project team which included HBI Construction and architect MacDavid Aubort & Associates.
About Farmers & Merchants Bank
Founded in Long Beach, CA in 1907 by C.J. Walker, Farmers & Merchants Bank has over $6B in assets and 24 branches across Orange County, Long Beach and the South Bay. The Bank specializes in commercial and small business banking, business loan programs, home loans, and a robust offering of consumer retail banking products including checking, savings and youth accounts. Farmers & Merchants Bank is a California state chartered bank with deposits insured by the Federal Deposit Insurance Corporation (Member FDIC) and an Equal Housing Lender.
See original press release here.
Los Angeles Business Journal
By Jacquelyn Ryan
May 6, 2013
As Los Angeles County’s industrial market continues to boom, Long Beach company Seventh Street Development has started construction on a Pomona warehouse that would be the largest built in the San Gabriel Valley in the last three years.
The $10 million, 245,000-square-foot warehouse and manufacturing building, at 1585 Mission Blvd., is expected to be completed by the end of the year, according to Seventh Street Principal Craig Furniss.
The company had planned to build without a committed tenant, but Kittrich Corp., a major manufacturer of home products, agreed to buy before construction even began. Prices were not disclosed but the asking rate was $97 a square foot. Kittrich plans to move its corporate offices and about 200 jobs from La Mirada to the new facility when construction is completed.
The building is part of the 1.5 million-square-foot Mission 71 Business Park, formerly entitled as a site for defense contractor General Dynamics, at Mission Boulevard near the interchange with State Route 71.
It is the largest industrial building to go up in the region since Seventh Street built a 655,000-square-foot facility in Irwindale for Huy Fong Foods Inc. in 2010.
The developer purchased most of the land in the Pomona business park in 2006, when a 750,000-square-foot warehouse and 40,000-square-foot storage facility were the only two buildings on the property. Seventh Street developed 11 smaller warehouse buildings on the property by 2011, all of which have been sold or leased.
The new building will feature 26,000 square feet of office space, skylights, docks, and a concrete truck yard.
Seventh Street is planning to begin the final phase of development on the business park with three new buildings, ranging from 42,000 to 114,000 square feet, also for sale or lease.
The industrial market is booming across Los Angeles, The county, which is among the hottest industrial markets in the country given its proximity to the ports of Los Angeles and Long Beach, posted a 4.7 percent vacancy in the first quarter. The industrial vacancy rate in the San Gabriel Valley in the period was 5.6 percent, according to Jones Lang LaSalle Inc.
See original story here.
