CenterPoint Nets Another L.A. Facility in Sought-After South Bay Submarket
Posted By Staff Writers On October 4, 2021 @ 10:00 am
OAK BROOK, IL – CenterPoint Properties has acquired a regional distribution warehouse at 2835 Columbia Street in Torrance, CA. The building is 52,334 square feet and sits on 2 acres.
This year it’s the company’s third investment in L.A.’s top-rated South Bay submarket and its 10th transaction in Southern California overall in 2021. CenterPoint has now eclipsed the seven SoCal acquisitions it made last year, with a full quarter yet to come.
“It’s no secret CenterPoint’s one of the most well-capitalized industrial investors in America,” said Evan Lippow, CenterPoint’s Senior Vice President of Investments. “We have demonstrated time and again we’re committed to building mass in the most competitive infill submarkets in the country, such as South Bay,” he added.
CenterPoint Properties’ Investment Officer Ashley Vanacore says the Columbia property’s ideal location makes it stand out even in a submarket where demand from port and e-commerce users is pushing industrial rents to new heights as vacancies ebb to all-time lows.
“2835 Columbia is 15 miles from the Ports and minutes from the 405, a crucial regional freeway that helps distributors efficiently reach some of the most affluent cities in Los Angeles and Orange Counties,” Vanacore said. “This property is a perfect addition to a portfolio stacked with strategically located port-proximate assets,” she stated.
Todd Taugner from The Klabin Company brokered the 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.