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| Shoemaker Distribution Center, 15050-15066 Shoemaker Avenue, Santa Fe Springs, CA |
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| Stanley Lezman |
LOS ANGELES, CA, Feb. 24, 2015 – American Realty Advisors,
an institutional real estate investment manager with more than $6 billion in
assets under management, has acquired the Shoemaker Distribution Center,
a 175,000 square-foot Class A industrial warehouse in Santa Fe Springs,
California.
The asset, which is currently occupied by Fortune 500
Company J.B. Hunt Transport Services, as well as Altaquip LLC, Pacific Diving
Academy USA, Inc., Spartech Corporation, and Sysonic USA, Inc., becomes part of
American Realty Advisors’ industrial portfolio, which encompasses more than 10
million square feet throughout the U.S., according to American Realty Advisors
Chairman and CEO Stanley Iezman.
“American Realty Advisors continues to acquire quality
commercial real estate assets in core markets on behalf of our investors,”
Iezman notes.
“Our strength is in sourcing and acquiring office, industrial,
multifamily and retail properties on which we can achieve strong current
returns, while improving property values and income through strategic and
active asset management.”
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| Barbara L. Emmons |
The Shoemaker Distribution Center is 100 percent occupied in
a market with just two percent vacancy at the end of the fourth quarter of
2014.
“In addition to the lack of available product in general,
this market has had robust activity in the 10,000 to 60,000 square foot range,
making this asset well-positioned for long term growth,” continues Iezman.
“A
strong income-producing property, the asset is also consistent with American
Realty Advisors’ ongoing investment strategy to identify core assets in well
located, supply constrained markets.”
Shoemaker
Distribution Center is situated on the border between Santa Fe Springs and
Norwalk just south of I-5 Freeway, a dominant industrial market for Los
Angeles.
Additionally, the property
specifications including, minimum 24’ clear height, a ratio of 1 dock door per
4,360 sf, and a secured yard for trailer storage, make this asset Class A for
this market.
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| Darla Longo |
“Based on
this asset’s strong occupancy rate and quality, as well as the lack of
competitive product in the surrounding, constrained industrial market, American
Realty Advisors will be able to justify an increase in rental rates to further
drive yields for our investors,” says Iezman.
The Shoemaker Distribution Center is located at 15050-15066
Shoemaker Avenue, Santa Fe Springs, California. American Realty Advisors
represented itself in this acquisition.
The seller, an entity controlled by
Lincoln Property Company was represented by Barbara Emmons, Darla Longo,
Rebecca Perlmutter, and Laird Perkins of CBRE.
With over $6 billion in assets under management, American
Realty Advisors is an investment manager to institutional investors, and has
provided real estate investment management services for over 26 years utilizing
core and value-added commingled funds and separate accounts.
American acquires
assets directly or provides equity, preferred equity, mezzanine debt, debt and
hybrid debt to primary investors and developers operating throughout the United
States for office, industrial, multi-family, and retail properties.
For a complete
copy of the company’s news release, please contact:
Lexi Astfalk/Jenn Quader
Brower, Miller & Cole
(949) 955-7940
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