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CenterPoint Adds Carson Portfolio to South Bay Industrial Holdings
CenterPoint Properties has completed a four-building portfolio acquisition in the South Bay industrial submarket, near the Ports of Long Beach and Los Angeles, for an undisclosed amount. The four facilities in Compton, at 1111 W. Artesia Blvd., 711 W. Walnut St., 1620 S. Wilmington Ave. and 425 Carob St., total 546,866 square feet.
The portfolio acquisition increases the CenterPoint South Bay portfolio to 30 total assets, along with two active development projects. The Oak Brook, IL-based firm’s regional leaders say they are committed to investing more capital in the submarket.
“It’s rare to have the opportunity to acquire this type of scale in the South Bay,” said Evan Lippow, CenterPoint’s SVP of investments in the West Region. “These four assets are synergistic with our existing portfolio and align with the CenterPoint investment strategy of accumulating scale in the premier infill logistics markets in the country.” .
CBRE National Partners’ Darla Longo, Michael Longo, Joe Cesta, Eric Cox and Barbara Perrier brokered the transaction. CenterPoint did not identify the seller or sellers.
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- ◦Sale/Acquisition
