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Partners Capital Snaps Up South Bay Industrial Park
Newmark arranged the sale of Carson Business Park, a 38,152-square-foot, five-building industrial park situated on 1.9 acres in Carson, for an undisclosed sum. The buyer was Partners Capital, based in Los Angeles.
Senior managing director Scott Schumacher and associate director Aaron Banks in collaboration with co-head, U.S. Capital Markets Kevin Shannon, executive managing director Andrew Briner and managing director Anthony Muhlstein represented the seller, Carson Five, LLC.
Located at 401 – 409 Gardena Blvd, the property was 100% leased at the time of sale to 16 unique tenants with 0.8 years weighted average lease term remaining, at in-place rents 61% below market.
“Carson Business Park is a highly functional project that caters to a wide array of small bay tenants in the coveted South Bay submarket,” said Banks. “The project’s near-term mark-to-market exposure, coupled with its centralized location and proximity to infrastructure, offers an extremely compelling value proposition.”
- ◦Sale/Acquisition
