Aerial view of 555 W. 189th St. Picture courtesy of Turnbridge Equities
Turnbridge Equities has acquired a 2.5-acre industrial outside storage website in Gardena, Calif., for $18.2 million. The property, located in Los Angeles’ South Bay submarket, traded in an off-market deal and marks the primary within the firm’s technique focusing on infill industrial outside storage websites in coastal metros.
The property is positioned at 555 W. 189th St. and options 410 ft of frontage to Interstate 110. Located near Interstate 405 and State Route 91, the asset is 10 miles from the ports of Los Angeles and Lengthy Seashore and 11 miles from Los Angeles Worldwide Airport.
In one other related deal, Triten Actual Property bought a three-property industrial outside storage portfolio final week in Port Wentworth, Ga. The properties modified fingers from Adana Capital and are totally occupied by three drayage customers.
Additionally lately, H.I.G. Companions, with its newly fashioned industrial outside storage platform, accomplished a 2.3 million-square-foot acquisition, marking a serious play for the subsector. The 55-property portfolio is one hundred pc occupied.
