Billingsley Company Acquires Prime Industrial Space in Eastern Los Angeles

(DALLAS, Texas) July 22, 2011 — Billingsley Company today announced its closing on a key industrial property in eastern Los Angeles. The building, which is located at 4540 Worth Street and 3625 Medford, is one of the highest quality industrial buildings in the market. The closing marks Billingsley’s second industrial acquisition in Los Angeles.

The building was purchased with Billingsley’s Los Angeles partner, the Trammell Crow Company.

“Our second acquisition of high quality industrial space in Los Angeles illustrates our continued success in this market,” said Partner Lucy Billingsley. “I am confident in our ongoing growth and future achievements in the industrial sector, both inside and outside our home state of Texas.”

This acquisition marks one of the first actions of the newly elected industrial leadership team at Billingsley. Carter T. Crow was recently chosen as the industrial team's Senior Vice President and George Billingsley was promoted to Vice President. Both are working closely with Senior Vice President of investments Marijke Lantz to expand the company’s industrial acquisitions.

“Our expansion into the industrial market outside of Texas marks a new era for Billingsley Company,” said Crow. “Regardless of the state of the economy, Billingsley is still growing, and it’s tremendously exciting to be part of the team at this time of strategic expansion.”

The 148,273 square foot industrial warehouse has approximately 16,547 square feet of mezzanine office space as well as 24’ clear heights in the warehouse space. The property sits on just under five acres and is bifurcated by a Union Pacific spur. Just south of the spur is approximately half an acre of unimproved land.

Located near the LAC/USC medical campus, the property is just five miles from downtown Los Angeles and has easy access to major interstates I-10 and I-710. The property is also positioned within an industrial park that is approximately 200 acres.

“Los Angeles has one of the lowest industrial vacancy rates in the country,” said George Billingsley. “We’re confident that the property will attract a prestigious tenant within a short time frame. This is an extremely attractive property in a very convenient location.”

"Trammell Crow Company is pleased to partner with The Billingsley Company on this strategic acquisition; we have a high level of interest from multiple parties for lease or sale of the building,” says Brad Cox, Senior Managing Director of the Los Angeles office for Trammell Crow Company. “The Los Angeles industrial market has experienced a marked increase in user activity since the first of the year and we anticipate we will have less than 2% vacancy in the majority of our Los Angeles sub-markets by year end."

Trammell Crow is finishing the construction of a new 120,000 square foot health science building for USC within blocks of the property. Both USC and the County expect to add millions of dollars of new investment in the area in the next several years.

About Billingsley Company

With offices both in Carrollton and downtown Dallas, Billingsley Company delivers unique insight and expertise to the art and science of commercial and residential real estate development. Founded in 1978 by Lucy and Henry Billingsley, Billingsley co-owns, designs, finances, leases and manages their properties for the future success of their investments and the success of their tenants.

Combining their relationships in the local market with their expertise in development, Billingsley Company provides expanded opportunities for their business partners. From raw land to fully developed communities, they are engaged in each step of the process. Delivering smart design integrated with artistic works and natural spaces, Billingsley Company’s developments are life-
enhancing communities in which to work, live, play, shop and dine. For further information, visit www.billingsleyco.com.

1722 Routh Street #1313
Dallas, TX 75201

This release was published on openPR.