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Investment and development company Comstock Realty Partners has filed plans for a roughly 67,000-square-foot, 44-foot-tall warehouse building in Pacoima, according to a new planning case posted this month by the city of Los Angeles.
The project will replace an existing industrial building at 13000 Pierce Street, also creating related site improvements including 46 parking spaces and about 5,000 square feet of landscaped area. The proposed development is being designed by Cataldo Architects, a South Pasadena-based firm, plans show.
“The Project will take a dilapidated metal building with no fire sprinklers and an outdated structural and seismic system and create a state of the art sprinklered, ADA-compliant, structurally advanced concrete tilt warehouse and factory building that will be able to employ many people,” the project team writes in application documents.
Founded by Adrian Comstock in 2007, Comstock Realty Partners is “capitalized through joint ventures from institutional and high net worth individuals and family offices,” according to its website. Some of its projects, including 13000 Pierce, are in Opportunity Zones, which are census tracts in which long-term investors are provided tax incentives for their investments under the 2017 Tax Cuts and Jobs Act.
Comstock Realty Partners acquired the 2.58-acre project site and existing property through an affiliate last year for about $6.45 million, according to Los Angeles County property records.