CenterPoint Secures Second Parking-Rich L.A. Property This Month
Posted By Staff Writers On July 20, 2021 @ 11:57 am
OAK BROOK, IL. – CenterPoint Properties has acquired a 32,489-square-foot building covering just 12% of the property at 15555 Valley View in Santa Fe Springs, CA. CenterPoint’s Southern California portfolio has grown to nearly 6.5 million square feet of industrial space.
“This represents CenterPoint’s seventh transaction in Southern California since the start of the calendar year, demonstrating our unwavering commitment to expanding our footprint throughout the market,” said CenterPoint Senior Vice President of Investments Evan Lippow. “We’re excited to add a strategic asset like 15555 Valley View to the portfolio that satisfies the relentless demand for low-coverage sites throughout the infill markets but also possesses operational optionality for the future,” Lippow finished.
The 6.3-acre Valley View property is in the heart of the Mid-Counties submarket, where the current industrial vacancy rate is less than one percent. CenterPoint’s new acquisition is about 2 miles north on Valley View Ave from the more than 1 million-square-foot building it leased last year at 6800 Valley View in Buena Park, CA.
“Parking is a huge deal for industrial users throughout Southern California, and especially so in infill submarkets like Mid-Counties,” said CenterPoint Senior Vice President of Asset Management Bob Andrews. ”Along with ample parking, this property’s proximity to the Ports, immediate access to the I-5 freeway, and central location among the region’s more than 20 million consumers add up to make this the prototypical investment our team prioritizes in Southern California,” Andrews added.
Clyde Stauff and Jace Gan of Colliers International brokered the sale-leaseback transaction.
CenterPoint is developing the Greenleaf Business Center – a best-in-class 212,000-square-foot facility flush with parking – in Santa Fe Springs, as well.
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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.