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10/17/23
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Boston-based real estate investment firm Longpoint Partners acquired the John Reed Commerce Center, a 275k sf, 15-building light industrial project in the City of Industry. The asset was 83% leased at the time of sale.
Situated on 16.4 acres at 1200-1316 John Reed Court, off Gale Ave, John Reed Commerce Center provides immediate accessibility and high visibility to State Route 60 (Pomona Freeway) with connection to the region’s robust freeway system. Additionally, situated in a cul-de-sac, the property also offers a unique semi-private working environment, and is close to an abundance of retail amenities.
The property was originally constructed in the late 1970s but has since undergone a renovation and upgrade. The 15 freestanding buildings range from 12.5k sf to 24.8k sf and have a minimum divisibility of 3.8k sf. The units all feature ground-level loading with some units also including dock-high loading.
Jeffrey Cole, Jeff Chiate, Rick Ellison, Bryce Aberg, Mike Adey, Brad Brandenburg and Matthew Leupold of Cushman & Wakefield’s National Industrial Advisory Group in Southern California represented the seller, a global investment advisor, in the transaction. Local market advisory was also provided by Cushman & Wakefield’s Chris Tolles, who along with colleagues Erik Larson and Robin Dodson of the firm were also retained for project leasing by Longpoint Partners. A price was not disclosed.
“John Reed Commerce Center was a rare opportunity to acquire an infill core industrial project in the San Gabriel Valley, one of the most dynamic and highly sought-after industrial markets in the nation. This high image industrial asset is widely recognized as one of City of Industry’s premier business parks,” said Cole. “The project represents a great option for smaller industrial and business users and boasts a strong mark to market value strategy.”
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