American Realty Advisors announced this week that it had acquired the Shoemaker Distribution Center, a 175,000 square-foot Class A industrial warehouse in Santa Fe Springs, California. The property, located at 15050-15066 Shoemaker Ave, adjacent to I-5 on the west side of Carmenita Road and south of Rosecrans Avenue, was sold by an entity controlled by Lincoln Property Company; terms of the deal were not disclosed. American Realty Advisors represented itself in this acquisition, while the seller was represented by Barbara Emmons, Darla Longo, Rebecca Perlmutter, and Laird Perkins of CBRE.
The Shoemaker Distribution Center is 100% occupied in a market with just two percent vacancy at the end of the fourth quarter of 2014. Major tenants include Fortune 500 Company J.B. Hunt Transport Services, Altaquip LLC, Pacific Diving Academy USA, Inc., Spartech Corporation, and Sysonic USA, Inc.
"We have a very strong focus on industrial assets throughout the United States in key distribution markets, and 40% of trade in the United States comes through the west coast ports, of which Los Angeles is the largest," Gary Steinhardt, director of the investment group at the firm, told GlobeSt.com. "We believe that the robust tenant and investor demand for functional in-fill distribution assets will continue, making this investment well positioned for long-term growth. Shoemaker offers many of the attributes desired by tenants in Santa Fe Springs, a market which can efficiently serve the entire Los Angeles and Orange County regions. These attributes include ample dock-high and drive-in loading, excess trailer storage and 24' or greater ceiling heights. Basically this is a strong income-producing property that is consistent with American Realty Advisors' ongoing investment strategy to identify core assets in well located, supply constrained markets."
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment