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9/06/23
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Artisan Ventures and an affiliate of Walton Street Capital L.L.C. have acquired a portfolio known as the “SoCal 2-Pack,” consisting of two light industrial assets located in Santa Fe Springs and Brea totaling 159.5k sf of space.
The two assets, located at 10907 Painter Ave in Santa Fe Springs and 331 Cliffwood Park St in Brea, are strategically located less than 20 miles from the Long Beach/San Pedro port complex and have easy access to several freeways (less than two miles to the I-5 and 0.5 miles to California Route 57). The assets are 88% leased with 3.2 years of weighted average lease term (WALT) remaining and offer tenants 22' - 24' clear heights and ample loading.
The recently formed partnership is seeking to invest a series of funds of at least $75 mil of equity each to acquire similar infill value-add light industrial assets within 20 miles from the ports of Los Angeles.
"We are excited about the recent formation of our SoCal Infill Industrial Platform with our long-time partners at Walton Street” commented Collin Komae, Co-Founder and Managing Partner at Artisan Ventures. “This transaction represents Artisan’s first investment in the industrial asset class and serves as the anchor investment in our strategic program built around port-proximate, infill industrial investment in Southern California.”
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