CenterPoint Acquires Trophy Asset in Highly Rated L.A. Infill Submarket
Posted By Staff Writers On June 1, 2021 @ 12:40 pm
OAK BROOK, IL – CenterPoint Properties is pleased to announce it has purchased a low-coverage facility in the coveted Los Angeles South Bay submarket at 2850 E. Del Amo Blvd. in Carson, CA. The 264,450-square-foot, 19.18-acre asset is ideally configured for companies seeking high-throughput warehouses close to the Ports of Los Angeles and Long Beach and regional interstates.
The property has parking for 180 trailers and 47 cars. It’s adjacent to the I-710 freeway and centrally located to the I-110, I-405, and I-5 freeways as well as CA-91, facilitating easy access to 22.3 million L.A.-area consumers.
South Bay properties in the 20-acre range with ~30% coverage, such as the Del Amo site, are highly sought after by port and e-commerce users alike. Port congestion has reached unprecedented levels in recent months, heightening competition for premium industrial supply chain solutions nearby.
“This property offers every logistical advantage an e-commerce company or port user could ask for,” said CenterPoint Senior Vice President of Asset Management Bob Andrews. “As currently configured, it’s optimal for tenants needing transload capability, and we have the option to cater to last-mile users, as well,” Andrews finished.
The building comes with a 10,500-square-foot office, 28′-32’ clear-heights and an ESFR sprinkler system. The above-market average door count is another premium feature that made it a high-value target for CenterPoint’s investment team. The facility has 66 dock-high doors and 29 drive-in doors.
“This investment is the epitome of our infill investment strategy. 2850 E. Del Amo is a preeminent logistics asset in the L.A. Basin and a trophy property for the CenterPoint portfolio,” said CenterPoint Senior Vice President of Investments Evan Lippow. “Our team worked extremely hard to secure this transaction and will continue to aggressively pursue similar assets in coastal gateway markets across the country,” Lippow emphasized.
Nicholas Foster and Zac Sakowski of JLL brokered the sale-leaseback transaction.
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About CenterPoint Properties
CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators and leaders with the creativity and know-how to tackle the industry’s toughest challenges. And it’s those kinds of problems—the delicate, the complex, the seemingly-impossible—that we relish most. Because with an agile team, substantial access to capital and industry-leading expertise, those are exactly the kinds of problems we’re built to solve. For more information on CenterPoint Properties, visit centerpoint.com, follow @CenterPointProp on Twitter or engage with us on LinkedIn.