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JV of Center Capital, Authentic Adds Two SoCal Industrial Assets
Center Capital Partners and Authentic Capital Group acquired two industrial properties in Southern California, including a 200,000-square-foot distribution facility at 9999 Olson Dr. in San Diego and a 101,000-square-foot industrial building at 5086 4th St. in Irwindale, for a total of $87.5 million. Brokered by Eastdil Secured, the transaction is part of a joint venture between the Los Angeles-based firms.
“This acquisition is a strong embodiment of our thesis and represents a key milestone for our partnership as we continue to scale our logistics portfolio,” said Alex Valner, president and managing partner at Center Capital Partners.
The property at 9999 Olson Dr. is fully leased to FedEx, which has occupied the facility since its completion in 1996. The Irwindale property is fully leased to Iron Mountain, its occupant since 2001. The Center Capital/Authentic partnership focuses on acquiring and growing a portfolio of high-quality core-plus and value-add industrial assets in prime urban infill markets with strong supply-demand fundamentals.
- ◦Sale/Acquisition
