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Staley Point-Bain Capital JV Acquires Two More SoCal Warehouses
Staley Point Capital and Bain Capital Real Estate, the real estate investing business of Bain Capital, continued their Joint venture by acquiring two industrial assets in Orange County and North Los Angeles totaling 232,000 square feet. The properties were purchased for a total of $42.6 million or $183 per square foot, representing a significant discount to replacement cost.
The assets are located at 2335 Moore Ave. in Fullerton and 21339 Nordhoff St. in Chatsworth. Moore totals 162,000 square feet in the West Fullerton submarket of Orange County. The asset is fully leased to a food user.
Nordhoff totals 70,000 square feet and is located in the San Fernando Valley. The facility is fully leased to a global credit tenant.
“These acquisitions underscore our commitment to investing in well-located industrial assets that benefit from strong demographic tailwinds and in-place tenancy,” said Eric Staley, managing partner, Staley Point. “Both properties align with our infill investment strategy, offering compelling value in highly supply-constrained submarkets with strong long-term demand fundamentals.”
- ◦Sale/Acquisition
