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CenterPoint Lands Last-Mile Portfolio
Oak Brook, IL-based CenterPoint Properties acquired a portfolio of five last-mile sites in the South Bay submarket of Long Beach, CA. The property includes nearly 12 acres with 65,109 square feet of warehouse and office improvements. The seller was a CenterPoint tenant, Ta Chen International.
The site at 3117 E. South Street is located along Paramount Blvd. off the 91 freeway. The five properties’ rectilinear configuration presents an assemblage opportunity in a submarket where property values are steadily rising as a result of a limited industrial development pipeline.
CenterPoint’s Greg Pearson says, “Our commitment to low-coverage property in a hyper infill environment is unwavering and embodied in this off-market portfolio sale.”
The portfolio deal also included another 10.5-acre pipe yard asset in Houston.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


