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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.
- ◦Sale/Acquisition
