Industrial sale-leaseback in Southern California closes
JLL Capital Markets arranged the sale of the transit-orientated distribution and warehouse property near the Ports of Los Angeles and Long Beach
JLL marketed the property on behalf of Century Distribution Systems. Chicago-based CenterPoint Properties was the buyer.
Situated on 19.18 acres in Los Angeles’ most coveted South Bay submarket, the property features 28- and 32-foot clear-heights, 66 dock doors and parking for 180 trailers. The property is adjacent to the I-710 freeway and centrally located to the I-110, I-405 and I-5 freeways, as well as CA-91, facilitating access to 22.3 million Los Angeles-area consumers.
The JLL Capital Markets team representing the seller was led by Nick Foster, Zac Sakowski and Mark Detmer.
“This was an extremely rare opportunity to acquire a low-coverage industrial asset on one of the best located parcels of scale in the South Bay relative to the ports,” Foster said. “The level of interest was tremendous, and we couldn’t have hoped for a better result for our client.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge deliver best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement, or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.