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7/22/19
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Alere, a pension fund advisor, purchased Los Alamitos Corporate Center, a 686.6k sf industrial complex in Los Alamitos, from Northwestern Mutual for $128.5 mil.
Located at 4332-4478 Cerritos Ave, 10541-10681 Calle Lee and 4392-4465 Corporate Center Dr, Los Alamitos Corporate Center is comprised of 17 buildings on a 36.9-acre lot. The complex is 98% leased and is currently home to 82 tenants with strong historical occupancy. The buildings range from 11.8k sf to 134.2k sf, providing a diverse range of suite sizes to capture a variety of tenant uses.
The property is located in the Mid-Counties industrial submarket of Los Angeles County and provides immediate access to the Los Angeles, North Orange County and Inland Empire West industrial markets. The center is just three miles from the I-405/I-605 freeway interchange and less than 19 miles from the Ports of Los Angeles and Long Beach. Tenants have convenient access to multiple airports, including Los Angeles International Airport, John Wayne Airport and Ontario International Airport.
CBRE’s Darla Longo, Barbara Perrier, Brett Hartzell, Rebecca Perlmutter Finkel, Eric Cox and Laird Perkins represented the seller.
“This offering was a unique opportunity to acquire a high-performing asset in the tight Southern California industrial market,” said Perrier. “This rare asset in an infill market provides the buyer stable cash-flow due to the strong historical tenancy that Los Alamitos Corporate Center has enjoyed.”
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