SoCal warehouse purchased for conversion

Buyer plans to finish project by year-end

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First Industrial Realty Trust Inc. recently purchased a vacant, 356,000-square-foot building on 14.5 acres in Rancho Dominguez, Calif., with plans to convert the former warehouse into a modern logistics facility. The property is located at 3015 Ana St., and the purchase price was not disclosed. First Industrial Realty Trust will soon begin a major reconfiguration of the property at an investment exceeding $4 million involving the demolition of 150,000 square feet of the structure and redevelopment of the balance. The resulting building will comprise 213,000 square feet and feature 55 dock-high loading positions, 20-foot minimum interior clearance, and 5.7 acres of additional land for container storage and two Union Pacific rail spurs. A fourth-quarter 2007 completion is scheduled. ...