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Ocean West Acquires Five Industrial Properties
Ocean West Capital Partners acquired five logistics-focused properties totaling nearly $100 million and comprising 1.83 million square feet in California’s Inland Empire and Central Valley. The sellers weren’t disclosed.
The recent purchases include a 921,729-square-foot industrial outdoor storage (IOS) portfolio comprised of four properties on 21.2 total acres located in the San Bernardino and Fontana submarket. The properties were recently constructed in 2023.
“The acquisition of this portfolio aligns perfectly with Ocean West’s belief in the long-term growth fundamentals of the industrial sector,” said Ryan Tucker, principal at Ocean West.
Additionally, Ocean West closed on the off-market sale-leaseback of a recently renovated advanced manufacturing facility totaling 908,000 square feet in Hanford. The facility is the manufacturing headquarters for Faraday Future, a luxury electric vehicle manufacturer. Faraday recently upgraded the property into a state-of-the-art EV auto manufacturing plant with nearly 28,000 amps of power servicing the facility.
