SRG Commercial broke ground late last year on 144,650 sq. ft. of industrial space on the former Pico Rivera Indoor Swap Meet site on Paramount Boulevard. The project, which officials expect will generate jobs and tax revenue, is set for completion this summer.
“This development could inspire other property owners to invest in our community or upgrade their existing buildings,” said Mayor Gustavo Camacho. The swap meet has been closed since 2015. City officials were pleased when SRG acquired the site through an auction.
SRG Commercial enjoys strong relations with Pico Rivera, having previously acquired Northrop Grumman’s 155-acre B-2 Stealth Bomber skunkworks site. SRG redeveloped the property with 1.9 million sq. ft. of premium corporate headquarters distribution buildings and selling 55 acres to retail developer Vestar for a Wal-Mart and Lowe’s power center.
City officials said they’ll help recruit tenants for the site. Uses could include assembly and packaging of nonhazardous products, business offices, distribution, food manufacturing, printing, scientific research or wholesale sales based on zoning, according to city Deputy Economic Development Director Julia Gonzalez.
Twenty percent of the development of the site will be landscaped. The greenery will serve as a buffer for nearby properties and control noise, city officials said.
Photo: Officials from Pico Rivera and Sares Regis Group celebrate the groundbreaking of an industrial development on Paramount Boulevard. From left are: Councilman Bob J. Archuleta, Mayor Gustavo Camacho, Senior Vice President Larry Lukanish, Councilman David W. Armenta, and Senior Vice President Patrick Russell. (Photo courtesy City of Pico Rivera).