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5/04/23
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Partners Capital, based in Los Angeles, acquired Carson Business Park, a 38.2k sf five-building industrial park situated on 1.9 acres in the city of Carson. Located at 401 – 409 Gardena Blvd, the property was 100% leased at the time of sale to 16 unique tenants with a weighted average lease term of approximately 0.8 years, and in-place rents 61% below market.
Scott Schumacher, Aaron Banks, Kevin Shannon, Andrew Briner and Anthony Muhlstein with Newmark represented the seller, Carson Five LLC.
"Carson Business Park is a highly functional project that caters to a wide array of small bay tenants in the coveted South Bay submarket." Banks commented. "The project's near-term mark-to-market exposure, coupled with its centralized location and proximity to infrastructure, offers an extremely compelling value proposition.”
The South Bay is one of the leading industrial submarkets in the world, boasting a vacancy rate of 1.2%, with limited land available for new industrial development. The location provides direct access to I-110 and I-405 and is proximate to the region’s primary economic engines—the Port of Los Angeles and Long Beach and Los Angeles International Airport.
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