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4/12/23
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George Urban Advisors, in partnership with Five Horizons Partners and DRA Advisors, has acquired a portfolio of seven industrial properties in Orange County and Los Angeles County. The properties encompass 851.1k sf of space in 45 buildings.
3283-3299 Walnut Ave, Signal Hill |
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George Urban Advisors will oversee property management of the portfolio. They intend to make minor capital improvements, improve operations and work to fill the minor vacancy at the properties.
Los Angeles County properties included in the portfolio include:
• 3283-3299 Walnut Ave, Signal Hill: an eight-building 74.4k sf industrial park
• 14747 Artesia Blvd, La Mirada: a five-building 73.4k sf complex
• 2698 Junipero Ave, Signal Hill: a one-building, 31.9k sf facility
• 2300 Walnut Ave, Signal Hill: a one-building 29.9k sf facility
• 2700 Rose Ave, Signal Hill: a one-building 27.6k sf facility
Orange County properties included in the portfolio include:
• The Row (Laguna Hills): a 25-building, 513.1k sf complex located at 23251-23501 Avenida de la Carlota, 23452 - 23641 Ridge Route Drive and 23501 - 23562 Commerce Center Drive
• Plaza Del Lago (Laguna Hills): a three-building, 100.8k sf complex located at 23001 and 23015 Del Lago Drive and 23052 Lake Forest Drive
“Despite the evolving economic climate, we expect the Southern California industrial industry to remain strong for many years to come,” said G. Ryan Smith, President of George Urban Advisors. “We were attracted to this portfolio because of the properties’ in-fill locations, occupancy, near-term upside potential and diversified rent rolls.”
CBRE National Partners represented the seller. The buyer repped itself.
“The portfolio offered the buyer the ability to acquire a large scale of properties across multiple markets in the highly entrepreneurial Southern California market,” said Mike Longo, Senior Vice President at CBRE. “Small bay industrial, with smaller suites, strong tenant retention and a low cost of operation is gaining favor with investors. The typically shorter-term leases allow the landlord to adjust rents more quickly to market. It’s the apartments of industrial real estate, except with a lack of new supply and high barriers to entry”
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