CenterPoint Acquires 93,818 SF in City of Industry, Led by VP Greg Pearson
Posted By Staff Writers On June 29, 2018 @ 12:51 pm
OAK BROOK, IL – CenterPoint Properties is proud to announce the acquisition of a 93,818 SF building at 13260-13280 East Amar Road in City of Industry, California. Greg Pearson, CenterPoint Vice President of Investments, led the efforts to acquire this last-mile facility located on 6.18 acres.
“We are thrilled to acquire this low coverage asset in the increasingly relevant 605 corridor. The building’s 1 per 3,900 SF dock door ratio, combined with 35 percent coverage, make it a strategic infill asset and a great addition to CenterPoint’s West Coast portfolio,” said Pearson.
This building is situated less than one mile from an I-10 access ramp and less than two miles from an I-605 access ramp. The site, located 30 miles from the Ports of Los Angeles and Long Beach, allows up to four daily trips to the port network.
“The high throughput building is complemented by a paved, lit and secured yard with capacity for more than 53 trailers,” said Ryan Dunlap, Senior Vice President of Investments. The asset will undergo a $2.5 Million+ renovation plan and will be marketed as available. CenterPoint was represented by Nathan Lara and Rudy Lara of Daum Commercial.
Greg Pearson joined CenterPoint as Vice President of Investments in March 2018. Pearson is responsible for executing CenterPoint’s Western Region investment strategy and managing local acquisition transactions. He has extensive experience in the industrial sector, having worked as an Investment Officer for Exeter Property Group and a Senior Associate on CBRE’s National Partners platform. Pearson received an MBA from Columbia University and holds a bachelor’s degree from the University of Southern California.
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The Company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint‘s portfolio includes 58.9 Million SF and 2,386 acres under development in the Company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visit centerpoint.com or follow @centerpointprop on Twitter.