Friday, August 12, 2016

Continental Funding Group Arranges Financing for Three Class A Industrial Assets in Greater Los Angeles, CA Market

Eugene Rutenberg
LOS ANGELES, CA (Aug. 12, 2016) – Commercial real estate investment banking firm Continental Funding Group has successfully secured $8.23 million in financing for three Class-A industrial assets totaling 105,000 square feet in the greater Los Angeles area on behalf of two separate sponsors.

The financing for both of these transactions was arranged by Continental Funding Group Director Eugene Rutenberg.

“Industrial is one the hottest asset classes in the greater Los Angeles area,” explains Rutenberg, Director of Continental Funding Group.

“As demand for premium industrial space continues to surge throughout the Los Angeles region, vacancy rates have reached a record low of approximately 2.3 percent. The limited supply of industrial product, coupled with enormous demand from distribution and manufacturing tenants, is driving rental rates, resulting in increased lending activity for this property type.”

According to a 2016 Mid-Year CoStar report, the average rental rate for industrial space in the greater Los Angeles region was $9.45 per square-foot by the end of the second quarter, indicating a 3.1 percent increase from the first quarter of this year.
Valencia, CA Industrial Property
Rutenberg notes, “Based on these strong economic indicators, our strategy was to secure exceedingly aggressive terms on behalf of our sponsors to capitalize on the growth of this robust and dynamic industrial market.”

For a complete copy of the company’s news release, please contact:

Katie Kea / Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940

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