403
CITY OF INDUSTRY, CALIF. — Staley Point Capital has acquired an industrial asset, located at 18689 Arenth Ave. in City of Industry, for $22 million, or $227 per square foot, in an off-market transaction. Bain Capital Real Estate was a joint venture partner on the acquisition.
The 97,000-square-foot property features 24-foot clear heights, eight dock-high positions and a functional concrete truck court. At the time of purchase, the property was 86 percent leased.
Winston & Strawn served as legal counsel to Staley Point Capital for the transaction. JLL represented both the buyer and undisclosed seller in the deal, while JLL Capital Markets arranged loan financing for the acquisition.