Daum Commercial Completes Sale of 55,000-SF Industrial Infill Property in Los Angeles County

Casey Mungo

 SANTA FE SPRINGS, CA – DAUM Commercial Real Estate Services has completed the sale of a 55,000 square-foot infill industrial asset in the Los Angeles County submarket of Santa Fe Springs, California.

 The property was acquired by a joint venture between Staley Point Capital (“Staley Point”), a value-add investor focused on industrial properties in Southern California, and Bain Capital Real Estate, the real estate investing business of Bain Capital, according to Casey Mungo, an Executive Vice President at DAUM Commercial, who represented the seller and procured the buyer alongside DAUM Associate Nate Ortega.

 “The buyer has seized a rare opportunity to add a highly desirable industrial asset in Southern California," explains Mungo.

  "The property is in a strong infill location with both dock-high and ground-level loading, heavy power and two private fenced yards.

 "The seller was able to capitalize on the active and highly competitive current industrial real estate market. Based on our depth of experience and the buyer’s persistence and vision, we were able to bring this complex transaction to the finish line and pave the way for significant value creation.”

Nate Ortega

 Mungo notes that the asset is located in one of the tightest areas of the Mid-Counties submarket, which is seeing average vacancies in the 1% range, according to a recent DAUM report. 

 Ortega adds: “The asset was recently upgraded to include a new roof, 6,500 square feet of renovated office, and professional landscaping. 

"The buyer plans to further modernize the property with a full refurbish in order to bring it to a first-class condition, and lease out the building to a high-quality tenant.”

 DAUM has been retained as the exclusive listing agent for this property. 

 The property provides ease-of-access throughout Los Angeles and Orange County with close proximity to Interstate 5 and 605 freeways and is located near Long Beach Airport, Los Angeles International Airport, as well as the Ports of Los Angeles and Long Beach.

 

SOLD: 55,000-SF infill industrial asset
at 11804 Wakeman Street
in Santa Fe Springs, CA

The asset was sold by a family trust for a total consideration of $12.25 million and is located at 11804 Wakeman Street in Santa Fe Springs, California.

 Greenberg Traurig, LLP served as legal counsel to Staley Point Capital for the transaction. JLL Capital Markets will arrange the loan financing.

 

 CONTACTS:

Arleeny Escarcega / Elisabeth Manville  
Brower Group  
(949) 438-6262 
aescarcega@brower-group.com 

www.daumcommercial.com.