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October 17, 2021
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LOS ANGELES COUNTY NEWS
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Staley Point Capital and Bain Capital Real Estate Spend Over $12 Mil on Industrial Asset in Santa Fe Springs

7/26/21

A joint venture between Staley Point Capital and Bain Capital Real Estate purchased a 44k sf industrial property in Santa Fe Springs. The asset, located at 11804 Wakeman St, was sold by a family trust for $12.25 mil ($278/sf).

The property is in a strong infill location with both dock-high and ground-level loading, heavy power and two private fenced yards. The asset was recently upgraded to include a new roof, 6,500 square feet of renovated office, and professional landscaping. The buyer plans to further modernize the property with a full refurbish in order to bring it to a first-class condition, and lease out the building to a high-quality tenant.

The property provides ease-of-access throughout Los Angeles and Orange County with close proximity to Interstate 5 and 605 freeways and is located near Long Beach Airport, Los Angeles International Airport, as well as the Ports of Los Angeles and Long Beach.

Casey Mungo and Nate Ortega with DAUM Commercial Real Estate Services represented the seller and procured the buyer in the transaction. According to Mungo, the asset is located in one of the tightest areas of the Mid-Counties submarket, which is seeing average vacancies in the 1% range, according to a recent DAUM report.

Greenberg Traurig LLP served as legal counsel to Staley Point Capital for the transaction. JLL Capital Markets will arrange the loan financing. DAUM has been retained as the exclusive listing agent for this property.






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