On July 20, Oak Brook, Ill.-based CenterPoint Properties, which has an office downtown, announced it acquired a 32,489-square-foot building at 15555 Valley View Ave. CenterPoint did not disclose the sale price.
The building covers just 12% of the 6.3-acre property.
“This represents CenterPoint’s seventh transaction in Southern California since the start of the calendar year, demonstrating our unwavering commitment to expanding our footprint throughout the market,” Evan Lippow, CenterPoint’s senior vice president of investments, said in a statement.
“We’re excited to add a strategic asset like 15555 Valley View to the portfolio that satisfies the relentless demand for low-coverage sites throughout the infill markets but also possess operational optionality for the future,” he added.
Parking and the property’s location were huge pluses for CenterPoint.
“Parking is a huge deal for industrial users throughout Southern California, and especially so in infill submarkets like Mid-Counties,” CenterPoint Senior Vice President of Asset Management Bob Andrews said in a statement.
Colliers International Group Inc.’s Clyde Stauff and Jace Gan brokered the sale-
leaseback transaction.
On July 21, Daum Commercial Real Estate Services announced that a joint venture of Sawtelle-based Staley Point Capital and Bain Capital Real Estate, the real estate investing arm of Boston-based Bain Capital, purchased a 55,000-square-foot industrial property at 11804 Wakeman St. for $12.3 million.
Daum’s Casey Mungo and Nate Ortega represented the seller and found the buyer.
Greenberg Traurig served as legal counsel to Staley Point Capital. Jones Lang LaSalle Inc. will arrange loan financing.
“The property is in a strong infill location with both dock-high and ground-level loading, heavy power, and two private fenced yards,” Mungo said in a statement.
