CenterPoint Acquires Southern California Building in Torrance
Posted By Staff Writers On November 8, 2019 @ 6:57 am
OAK BROOK, IL – CenterPoint Properties is proud to announce the acquisition of a 60,500 square-foot building at 2665 Columbia Street in Torrance, California. The building is located in the coveted Torrance submarket, with immediate access to rail, and within 15 miles of the Ports of Los Angeles and Long Beach. CenterPoint owns a building immediately to the north at 4100 West 190th Street, Torrance, CA.
“The recent pricing transparency in Torrance has provided significant basis insulation,” said Greg Pearson, CenterPoint Vice President of Investments. The building was purchased for an undisclosed amount.
The building features a high image corner, rail access and multiple loading positions. The asset is currently 100 percent leased to Aztec Tents.
“The building is a strategic addition to our Southern California portfolio,” said Ryan Dunlap, CenterPoint Senior Vice President of Investments. “This location will provide enhanced liquidity for the overall enterprise,” said Dunlap.
CenterPoint has been one of the most active investors on the West Coast over the past 12 months. The firm is the market leader for total acquisitions in Seattle and the East Bay, and the largest industrial investor in Orange County this year. The firm’s most recent acquisition was completed last week at 3201 South Susan Street in Santa Ana. It was CenterPoint’s second purchase over 200,000 square feet in Orange County this year.
In the acquisition of 2665 Columbia Street, the seller was represented by Darla Longo, Barbara Emmons Perrier and Eric Cox of CBRE National Partners.
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.