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9/16/22
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BLT Enterprises recently acquired seven SoCal industrial and creative office properties for a total of $130 mil. Located throughout Los Angeles County, Orange County, and San Diego County, California, the acquisitions total nearly 270k sf of buildings on more than 18 acres of land.
The seven properties include:
• 621 Hawaii St in El Segundo: a 49.3k sf creative office building situated on 1.97 acres, 621 Hawaii St is fully leased to Nexon America Inc, South Korea’s largest video game developer. The property is positioned just minutes from LAX between the Raytheon and Northrop Grumman buildings in El Segundo’s aerospace and defense sector. As the city undergoes rapid renovation and adaptive reuse, the region continues to be one of the most sought-after markets in Southern California, with a highly diverse tenant base.
• 7748 Industry Ave in Pico Rivera: a 10.4k sf warehouse building on 0.85 acres, 7748 Industry Ave is located off I-5 in the East Los Angeles/Mid-Cities area. This low coverage site is anticipated to fulfill the high demand of distribution and outdoor storage facilities within greater Los Angeles.
• 2901 Thornton Ave in Burbank: a 10.2k sf warehouse building situated on 0.8 acres, 2901 Thornton Ave is located off I-5, just minutes from the Burbank Airport. This well-situated asset is fully leased to Reno Hardware. Due to its low coverage and proximity to the rapidly growing Burbank studio market, the asset is positioned to deliver long-term value.
• 6368 and 6374 Arizona Circle in Los Angeles: 6368 Arizona Circle is a 6.9k sf creative office building on 0.32 acres, and 6374 Arizona Circle is an 8.1k sf creative office building on 0.32 acres. Located off I-405 in Playa Vista, 6368 and 6374 Arizona Circle are ideally positioned in the submarkets “techtainment” ecosystem.
• 3539 Howard Way in Costa Mesa: 3539 Howard Way is a 12.6k sf warehouse building on an oversized 3.02-acre industrial lot. Located adjacent to an existing BLT-owned industrial property operated by FedEx, the currently vacant property offers ample opportunity to utilize the under-coverage site to meet the escalating transportation and logistics demands of Orange County.
• 1 Viper Way in Vista: a 175k sf distribution facility on 11.07 acres, 1 Viper Way is located within the Northern San Diego industrial region.
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