VITAL STATISTICS
SANTA FE SPRINGS LOGISTICS CENTER
9400-9500 Santa Fe Springs Rd., Santa Fe Springs
Deal Value: $210M
Newmark arranged the sale of Sante Fe Springs Logistics Center, a 595,304 square foot fully leased distribution center situated on 22.3 acres in Sante Fe Springs, approximately 13 miles southeast of Downtown Los Angeles. Newmark’s Bret Hardy, Jim Linn and Andrew Briner, Kevin Shannon, John McMillian, Jeff Sanita and Danny Williams represented the undisclosed seller. The buyer was Rexford Industrial.
Located at 9400-9500 Santa Fe Springs Road, the property is a large-scale, functional warehouse/distribution facility strategically located in the Mid-Counties submarket of Los Angeles, allowing convenient access to nearly 18 million consumers throughout the five- county Greater Los Angeles metropolitan area. Developed in 1980 and 1990, the campus is leased to two tenants and features 24- to 26-foot ceilings, ample-sized yard areas and sufficient dock high loading. The center is less than three miles from Interstates 605 and 5, within 10 miles of four railyards, 25 miles from Los Angeles International Airport and two other airports and proximate to the ports of Los Angeles and Long Beach. As an asset of scale with near term upside, the offering presented exceptional opportunity and the seller successfully executed their business plan for the asset, while the buyer was able to continue strategically growing in a target market.
VITAL STATISTICS
FORMER FARMER JOHN MEATPACKING PLANT
3049, 3095 & 3163 E. Vernon Ave., Vernon
Deal Value: $206M
In June, Colliers announced the $206 million sale of a large-scale, approximately 29-acre industrial infill site primed for a generational redevelopment in Los Angeles’ most coveted industrial core. The facility comprises one of Southern California’s largest food processing plants, formerly operated by Smithfield Foods. Colliers’ Western Region Industrial Capital Markets Team led the disposition effort on behalf of Smithfield Foods and the buyer, Goodman North America. The Colliers platform advised on several aspects of the transaction.
VITAL STATISTICS
7TH STREET STUDIOS
2160 East 7th St., Los Angeles
Deal Value: $85M
7th Street Studios was a fully repositioned, purpose-built 95,285 square foot studio production facility located in the heart of the Arts District. The Newmark team was tasked to conduct this deal off-market, only approach a few select groups, and close the transaction pre-measure ULA.
Newmark was able to close the transaction pre-measure ULA, to an all-cash buyer, at nearly $900 PSF, representing the most expensive studio purchase in Los Angeles in 2023.
The seller’s business plan was effectuated to perfection‚ bringing a warehouse to life as a creative studio sound stage concept.
