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3/18/21
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Century Park Partners purchased a 22.4k sf, absolute-net ground lease building in Inglewood for $16.8 mil. The property site, totaling 1.65 acres at 8821 Aviation Blvd, west of the 405 Fwy and south of Manchester Blvd, is home to a newly constructed United States Postal Service (USPS) facility located adjacent to Los Angeles International Airport.
The building, constructed in 2020, offers 126 on-site parking spaces. This facility is the Airport Finance Station, a mission-critical relocation unit for the USPS that features a full-service mail center as well as major passport and finance functions servicing the high-demand LAX Airport area.
The long-term lease provides the buyer with the outstanding credit of the USPS, and the property benefits greatly from its path-of-progress location adjacent to the fast-expanding LAX Airport. The airport is the third-busiest airport in the world and is currently undergoing a $14 bil transformational renovation. The buyers were further attracted to the flourishing Inglewood market, which is undergoing a massive wave of redevelopment in the area surrounding the SoFi Stadium entertainment complex.
The seller, an affiliate of Hackman Capital Partners (HCP) and its HCP Urban Infill Fund as well as GreenTree Capital Group LLC, was represented in the disposition by Bob Safai, Matt Case, Brad Schlaak, and John Beebe of Madison Partners in Beverly Hills.
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