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June 22, 2024
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Nuveen Real Estate Picks Up 337k sf Industrial Asset in La Mirada


Nuveen Real Estate has acquired a 337.1k sf, Class A industrial distribution project in La Mirada. Situated on over 14 acres, the two-building, multi-tenant property is 100% leased to three tenants.

Originally built in 1997, the project is located at 14001-14007 and 14041-14051 Rosecrans Ave. It features ample loading, ESFR fire sprinklers, 30’ clear heights and approximately 87.1k sf of new food-grade refrigerated space.

The property offers an attractive image with major street frontage along Rosecrans Ave and a strategic industrial location just north of the confluence of the I-5 and SR-91 Freeways and 15 miles from the Ports of Los Angeles & Long Beach and Los Angeles International Airport. Additionally, the project provides close access to the Southern California freeway system including four freeways (I-710, I-105, I-605 & SR-57) all located within a ten-mile radius.

Jeff Chiate, Jeff Cole, Rick Ellison, Mike Adey, Brad Brandenburg, and Matt Leupold of Cushman & Wakefield’s National Industrial Advisory Group based in Southern California represented the seller in the transaction. The firm’s Randy Ellison also provided local market advisory. A price was not disclosed.

“This was an exceptional investment opportunity to acquire a rare and sizable institutional quality industrial project in an ultra-infill location, and that is 100% leased to a quality tenant roster,” said Chiate. “The property is also ideally positioned near a multitude of logistical freeway routes plus close proximity to ports and airports, and a robust customer base in the surrounding region.”

Ellison added, “The property is well positioned within the Mid-Counties industrial submarket, one of the strongest in the nation. Low vacancy has driven rental rate growth in the area creating an exceptional mark-to-market opportunity and an ideal long-term investment strategy. The property also provides leasing optionality with near-term lease expirations coupled with a range of suite sizes and configurations attracting a wide variety of prospective occupiers.”

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