CenterPoint Closes on Largest Single Transaction in L.A. Basin in 25 Years
Posted By Staff Writers On April 5, 2017 @ 2:29 pm
BUENA PARK, CA – CenterPoint Properties is proud to announce its recent acquisition of one of the premier contiguous one million square foot transload facilities in the heart of the L.A. basin below replacement cost. Patrick Sullivan, Brett Spitzer and Nicholas Chang of NAI Global represented CenterPoint in the transaction.
“CenterPoint is pleased to acquire this facility to grow our footprint in the L.A. basin,” said Ryan Dunlap, Senior Vice President of Investments at CenterPoint. “We couldn’t be more excited to further our involvement in this area, one of the busiest and most dynamic industrial markets in the United States.”
Sitting on 44.5 acres, the facility is ideal for e-commerce and logistics-focused organizations with its easy access to the population, nearby port and all major highways. CenterPoint plans to reposition and stabilize the asset to capture growing industrial demand.