|
|
1/13/21
|
An investor advised by Zurich Alternative Asset Management (ZAAM) purchased a 41.7k sf industrial property in Santa Fe Springs for $12.4 mil ($297/sf). Located at 10329 Painter Ave, the property was originally built in 2000 and features 51 parking spaces.
The two-story, single-tenant building is fully leased to ACT Labs, a maker of personal care products. The property is three miles from the interchange between I-5 and I-605, two major freeways that connect Santa Fe Springs to the rest of Southern California.
Gary Stache, Anthony DeLorenzo, Mark Shaffer, Doug Mack, Bryan Johnson, Sean Ward and Chris Ehrlich of CBRE represented the buyer and the seller, a private investor, in the transaction. Chris Edgar and Sean Bannon with US Real Estate, led the deal for ZAAM.
“The tenant recently signed a 10-year lease extension at this property in one of the hottest industrial investment markets in the country, providing the new owner with a very desirable level of stability,” said Stache.
Added Bannon, “We invest in core and core-plus assets in 20 U.S. markets, and while most assets we acquire are valued between $25 mil and $100 mil, we also have capital sources that execute exclusively in the $7 mil to $20 mil range. This builds diversification for smaller portfolios and gives sellers of these assets an institutional exit where the buyer pool is typically private. Painter Avenue is a perfect example of that.”
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
