|
|
5/07/25
|
W. P. Carey has acquired a 302.9k sf, cold storage warehouse and distribution property in Santa Fe Springs. The property sits on 16.7 acres at 15015 Valley View, between Rosecrans Ave and I-5. The price was not disclosed.
The under-renovation property will soon offer a new, state-of-the-art refrigeration system and is fully leased to United Natural Foods Inc under a long-term contract, providing stable rental income from a mission-critical facility in one of the nation’s most coveted industrial markets.
The on-site building provides an efficient design and unmatched functionality, featuring 26’ to 35’ clear heights, excellent dock high loading and ample trailer parking. Additionally, the property offers 273.3k sf of temperature-controlled space (90% of the property) ranging from -10 to 38 degrees.
The property is situated immediately adjacent to the region’s robust freeway network, which includes Interstates 5, 605 and 105. It provides direct access to dense population centers and critical infrastructure and is strategically positioned in the infill Mid-Counties submarket.
Newmark Executive Managing Directors Andrew Briner, Jim Linn and Bret Hardy, Co-Head of U.S. Capital Markets Kevin Shannon, Associate Director Aaron Banks and Senior Financial Analyst Luke Easton represented the seller, a Brookfield-backed fund. W. P. Carey is one of the largest net lease REITs, with over 1,600 properties across the U.S. and Europe. According to Briner, the asset traded at pricing significantly below replacement cost.
The cold storage segment of industrial real estate is growing rapidly, according to Newmark Research. As of midyear 2024, cold storage inventory reached approximately 312 msf nationwide, with vacancy rates of just 4.4%, below industry averages of 6.6%. Development of cold storage facilities is also near an all-time high as requirements for temperature-controlled space become more common.
Los Angeles is a particularly attractive market for both cold storage operators and industrial investors more broadly. The market is home to the third-highest cold storage inventory in the nation, behind only the New York-Philadelphia metro area and Dallas. LA’s industrial vacancy, all building types--dry and cold, was 4.3% during 4Q24, the fifth lowest in the country.
|
|
 Return to the previous page
|
|
|
|
|
Printer-friendly Version
Email an Associate
