CenterPoint Hits Trifecta for Rare Assemblage in LA’s South Bay
Posted By Staff Writers On July 13, 2022 @ 11:28 am
OAK BROOK, IL – CenterPoint Properties has acquired two properties at 400 and 436 W. Walnut St. in Carson, CA, less than three weeks after closing on their neighbor, 17331 S. Broadway St. The three buildings total 50,780 square feet and cover less than 17 percent of the 7-acre assemblage in the heart of one of America’s top industrial submarkets.
“It’s a prodigious accomplishment to pull off the delicate balancing act of working with three sellers simultaneously, especially in a submarket like the South Bay,” said Evan Lippow, CenterPoint’s Senior Vice President of Investments for the West Region. “It’s a testament to our team and partners that we acquired a trophy in the Broadway property and two synergistic assets in the Walnut sites basically at once,” he finished.
The highly visible trio has substantial frontage on the 91 freeway and offers tenants efficient access to the 110/91 interchange, making all three perfectly suited for last-mile operations. Though CenterPoint has the flexibility to combine them into a distribution powerhouse in the future, Ashley Vanacore, the firm’s Investment Officer for the West Region, said the Walnut sites will be available for lease.
“We like the optionality these three properties offer, of course,” said Vanacore. “But, for now, the Walnut sites are great standalone, low-coverage properties that cater well to users that need excess parking and yard space.”
Bob Andrews, CenterPoint’s Senior Vice President of Asset Management in the West Region, will lead the company’s leasing efforts of both properties. The nearly 1-acre 436 W. Walnut property is immediately available for lease, while 400 W. Walnut will be available for lease in Q4 2022.
Brandon Carrillo and Garrett Massaro from Lee & Associates represented the seller in the 436 W. Walnut 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.