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6/03/26
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Karney Properties has obtained a $33.5 mil loan on a 178.5k sf, Class A industrial building that it developed and currently owns in Cerritos. The single-tenant facility, located at 15959 Piuma Ave, south of Alandra Blvd and just west of I-605, is one of the largest and newest assets in its highly infill section of the market.
The asset serves as a distribution hub for an investment-grade rated logistics company that operates across the grocery, food service, safety, retail and healthcare sectors. The building features 32-foot clear heights, ample dock-high loading and ESFR sprinklers. The site includes fully concrete truck courts, full circulation and significant capacity for automobile parking and excess trailer storage.
Located directly adjacent to I-605 on the edge of the Cerritos submarket, the property provides excellent access to major thoroughfares and logistics hubs such as the Port of Los Angeles and Long Beach, Los Angeles International Airport (LAX) and the Los Angeles BNSF Intermodal facility. With immediate direct access to I-605, occupants of the site can access State Route 91, Interstate 105 and Interstate 5 within minutes.
Senior Managing Director Matt Stewart, Managing Director Mark Wintner and Associate Jacob Michael with JLL Capital Markets arranged the financing. The fixed-rate loan was provided by Nationwide.
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