Staley Point Capital, a value-add investor focused on industrial properties in Southern California, and Bain Capital Real Estate have sold two industrial real estate assets for $54 million, or $339 per square foot. The Staley Point/Bain Capital joint venture originally acquired the two properties, 331 Cliffwood Park St. in Brea and 10907 Painter Ave. in Santa Fe Springs, via separate transactions in 2021 that totaled $35.3 million.
331 Cliffwood Park is a fully leased, single-tenant warehouse, while 10907 Painter is a newly renovated, multi-tenant logistics facility located 20 miles from the Port of Long Beach. Together, the two properties comprise 160,000 square feet.
“This transaction demonstrates the significant demand for high-quality warehouses in infill locations, as well as the successful execution of our value-add program, which often includes capital improvements to enhance appeal to both tenants and owners,” said Eric Staley, managing director of Staley Point. “We remain highly committed to this strategy with support from Bain Capital and will continue to seek out hyper-infill industrial assets and land sites in top-tier markets.”
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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).