Clarion Companions bought the two-building distribution heart.
Nuveen Actual Property has acquired La Mirada Distribution Middle, a 337,125-square-foot industrial campus in La Mirada, Calif. Clarion Companions bought the asset for $151.2 million, in accordance with Los Angeles County information. The Class A property beforehand modified arms in 2019, when the earlier proprietor bought it for $76.8 million, in accordance with CommercialEdge information.
Accomplished in 1997, the two-building enterprise park options ESFR fireplace sprinklers, 30-foot clear heights and roughly 87,129 sq. toes of food-grade refrigerated house. The asset was absolutely leased on the time of sale to Trend Furnishings Rental, Weee! and Westset Logistics Distribution.
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Positioned at 14001-14007 and 14041-14051 Rosecrans Ave., the 14.4-acre property is roughly 18 miles from downtown Los Angeles, north of Interstate 5. The ports of Los Angeles and Lengthy Seashore, in addition to Los Angeles Worldwide Airport, are roughly 26 miles away. The encompassing space additionally contains Southern Wine & Spirits Distribution Middle, Weber Logistics, Extremely Resolution and Unified Grocers, amongst others.
Cushman & Wakefield‘s Jeff Chiate, Jeff Cole, Rick Ellison, Mike Adey, Brad Brandenburg and Matt Leupold represented the vendor, whereas Randy Ellison supplied native market advisory.
CommercialEdge information exhibits Nuveen owns some 3 million sq. toes of commercial house within the Los Angeles metro, whereas its nationwide portfolio provides as much as practically 72 million sq. toes. In September, the corporate grew its Houston footprint with the acquisition of an industrial campus totaling 281,481 sq. toes in Spring, Texas.