Construction is under way on the first phase of a $100-million-plus business park on the site of the former Union Carbide Co. plant in Torrance.
Torrance Business Park is being developed on a 63-acre site at the northwest corner of Del Amo Boulevard and Prairie Avenue by W&B Commercial Properties and Gibraltar Savings.
The park was master planned by Herbert Nadel AIA & Partners to include 18 to 22 buildings, according to J. Scott Watt, president of W&B. He said the park will be valued at more than $100 million when completed.
Facilities will range from 1 1/2-story research-and-development buildings, to accommodate electronic assembly and light manufacturing, to three-story, multitenant office buildings.
"Firms in the park will enjoy an attractive business environment," Watt said, "protected by restrictions providing for building setbacks, landscaping, sign standards, off-street parking and architectural approval of all facilities."
He added that utilities will be underground and streets will be 50 feet wide, with curbs and sidewalks.
The two high-tech buildings in Phase 1, under construction at 19951 and 20000 Mariner Ave., are 1 1/2-story, multitenant office/research facilities with expandable mezzanines and will have light-colored exterior panels contrasted by Greylite black glass, according to James R. Wadsworth, W&B senior vice president and project manager.
When ready for occupancy next spring, the two buildings, with a combined 151,000 square feet of floor space, will have a value of $14 million, he said.
Surface parking for 514 cars will be provided in the initial phase, for which W&B is the general contractor. Construction financing was provided by Bank of America and permanent financing is by Teachers Insurance & Annuity Assn. Coldwell Banker Commercial Real Estate Services South Bay office is the exclusive brokerage firm.
W&B also will build to suit and sell sites for buildings, Wadsworth said.