Longpoint Stretches Across the Country for $52M Los Angeles Commerce Center
Boston, MA-based Longpoint Realty Partners has secured $52 million in acquisition financing to purchase a business park in the Los Angeles-area community of Van Nuys, CA.
A JLL team of Greg Brown and Peter Thompson placed a three-year, floating-rate, non-recourse acquisition loan with Prime Finance on behalf of Longpoint.
Van Nuys Industrial Park is comprised of four buildings totaling 84,346 square feet and two land parcels. The four light industrial buildings were constructed between 1963 and 1974, with the two land parcels totaling 3.87 acres are used as outdoor storage lots for automobiles and truck trailers.
The value-add property is fully leased to six tenants in the telecommunications, health services, non-profit, trucking and logistics, car distribution and agriculture machinery and equipment distribution industries. The properties are positioned on 11.75 acres in an infill location in the San Fernando Valley with access to major transportation corridors and critical logistical hubs.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.