Longpoint Realty Partners Acquires Industrial Park Near Van Nuys Airport in Los Angeles for $85M

by Amy Works

LOS ANGELES — Boston-based Longpoint Realty Partners has purchased a 13.4-acre industrial park, including five buildings and two vacant land parcels, near the Van Nuys Airport in Los Angeles. A private ownership group sold the property for $85 million.

Totaling 95,600 square feet and originally constructed in 1960s and 1970s, the properties are:

  • a 12,000-square-foot restaurant building at 16320 Raymer St.
  • a 14,700-square-foot industrial property at 16300-16310 Raymer St.
  • a 33,000-square-foot industrial facility at 16251 Raymer St.
  • a 20,000-square-foot industrial asset at 16201 Raymer St.
  • a 15,900-square-foot industrial property at 16161 Raymer St.
  • a 2.5-acre land parcel at 16141 Raymer St.
  • a 1.4-acre land parcel at 8085 Woodley Ave.

Jeff Chiate, Rick Ellison, Mike Adey, Brad Brandenburg and Matthew Leupold of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the transaction. Erik Larson, Robin Dodson and Paul Sims of Cushman & Wakefield provided local market advisory for the deal.

JLL Capital Markets recently arranged $52 million in acquisition financing for the buyer.

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