Los Angeles-based investment firm continues to build its Southern California industrial portfolio
LOS ANGELES, CALIFORNIA, UNITED STATES, May 7, 2018 /EINPresswire.com/ — Real estate investment firm Partners Capital has acquired a 15,000-square-foot industrial building in Los Angeles County, CA from Jennifer M Anderson for $2.00 million.
The building is located at 510 E. Airline Way with direct access to truck routes I -110, I-91 and I-405. The building is 100 percent leased to Sparks Recycling as its South Bay hub.
Partners Capital acquired the property as part of a 1031 Exchange transaction following the disposition of another industrial asset in Las Vegas.
"Although a smaller investment than we typically like to make, this acquisition represents another key purchase in our investment focus,"said Partner Capital Senior Vice President of Acquisitions Mark Blumenthal."Demand for smaller buildings continues to rise as supply continues to diminish. Assemblage of parcels for either new ground up development to larger class A facilities or transition to mixed use properties continues to shrink the availability marketplace within the South Bay.," he said.
This is the ninth industrial acquisition for Partners Capital in the past 28 months. The industrial marketplace is a cornerstone of the firm's investment platform, especially for buildings under 200,000 square feet in Southern California, according to Blumenthal.
"The market is extremely tight for value-add opportunities, and sourcing properties with below-market rental rates with mark-to-market opportunity is another way to create value ," added Bobby Khorshidi President of Partners Capital."We continue to value our extensive brokerage relationships across the Southern California region as we continue to expand our portfolio through a team effort.
Remington Moses & David Bales, both principals of Lee and Associates in the firm's Gardena office represented Partners Capital in the transaction. Brent Daniels & Robert Colacion of Gateway Business Properties represented the seller.
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Source: EIN Presswire