CapRock Companions Acquires 3.1-Acre Worth-Add Industrial Asset in Central Los Angeles
PICO RIVERA, CALIF. – [June 26, 2023] – Main Western U.S. industrial actual property investor, developer and asset supervisor, CapRock Companions, right now introduced its acquisition of Olive Tree Industrial, a 3.1-acre value-add industrial out of doors storage (IOS) property in Pico Rivera, Calif. Uniquely, this IOS property consists of roughly 31,000 sq. ft of warehouse area and a big, secured storage yard—a extremely fascinating function for tenant-users on this property measurement vary.
The acquisition strengthens CapRock Companions’ foothold in Southern California’s industrial market because the agency actively pursues new alternatives for value-add funding within the Western and Central U.S. CapRock bought the asset from a non-public proprietor. Phrases of the deal should not disclosed.
“CapRock Companions is worked up so as to add Olive Tree Industrial to our established portfolio of value-add industrial property,” mentioned Taylor Arnett, first vice chairman of acquisitions at CapRock Companions. “With our confirmed monitor document and strategic imaginative and prescient, we look ahead to unlocking the property’s full potential and making a practical, environment friendly area that meets the evolving wants of business companies within the Los Angeles space by catering to each conventional industrial customers in addition to industrial exterior storage customers.”
Renovated in 2011, the Olive Tree Industrial warehouse area options three dock-high doorways, 5 grade-level doorways, and roughly 5,000 sq. ft of freestanding artistic open workplaces, and an extra 26,000 sq. ft of practical warehouse/gentle manufacturing area.
CapRock will start capital enhancements instantly to reposition the property to reinforce its performance and marketability. The reimagined property can be designed to accommodate a wide range of potential customers and can be marketed for single tenant use.
“As the provision of present industrial area within the Los Angeles Basin ages and turns into functionally out of date within the new period of superior logistics and distribution, CapRock continues to safe alternatives to strategically reposition underutilized and undervalued property via our value-add funding platform,” mentioned Mike Kent, senior vice chairman of asset administration at CapRock Companions. “Our staff is thought for its artistic pondering and entrepreneurial method to industrial actual property funding. Olive Tree Industrial presents a chance to leverage our capabilities and ship a fascinating asset for tenants, in addition to optimistic returns for our traders.”
Located at 8226 Whittier Boulevard, Olive Tree Industrial occupies a primary infill location in Central Los Angeles’ Southland industrial submarket. Handy to the I-5 and I-605 freeways, it permits for straightforward entry to Downtown Los Angeles, the ports of Los Angeles and Lengthy Seaside, regional transportation and the immense native inhabitants.
Mark Repstad and Carla Chen with Southland CRE represented CapRock within the buy transaction and have been retained to market and lease Olive Tree Industrial’s accessible area.
CapRock is actively buying center market, value-add industrial property, usually between $20 million and $100 million per acquisition, along with land for growth alternatives all through the Western and Central U.S.
In Q2 2023, CapRock broke floor on West Valley Logistics Heart, a 12.5-acre website for redevelopment in Pomona, one among California’s strongest and most land-constrained submarkets. Initially a sale-leaseback settlement, CapRock is now underway in delivering a brand new Class A 270,000-square-foot industrial warehouse on the property. At completion—anticipated in This autumn 2024—the complicated will function 40-foot clear heights, 28 dock-high doorways, 129 automobile areas and 46 trailer stalls.
ABOUT CAPROCK PARTNERS
Based in 2009 in Newport Seaside, Calif., CapRock Companions is a privately owned investor and developer of business actual property within the Western and Central United States. With roughly $2.7 billion of property below administration or advisement as of December 31, 2022, the corporate focuses on buying middle-market value-add industrial property, growing large-scale institutional-quality Class A industrial warehouse services in key areas, and offering third-party asset administration companies for institutional traders. The agency is actively buying land for growth and center market value-add property throughout the Western and Central U.S. Since inception, its whole funding and growth pipeline exceeds 30 million sq. ft of business actual property. For extra info, go to www.caprock-partners.com. Observe the corporate on Fb, LinkedIn, Twitter and Instagram.
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