West Harbor Capital, a real estate investment firm specializing in infill industrial properties, has successfully acquired a 69,498-square-foot multi-tenant distribution facility located at 14313-14351 E Bonelli St. in the City of Industry for $16.5 million.
Steffan Morris and Eric Parkhurst from Lee & Associates represented West Harbor Capital while Kent Stalwick from CBRE represented the seller, Earl M. Hill Limited Partnership. The property includes a vacancy of 28,240 square feet and is currently leased to two logistics tenants totaling 41,258 square feet.
According to Adam Deierling, managing partner and co-founder of West Harbor Capital: “The all-cash transaction was made possible through our team’s collaborative efforts and quick action to meet the seller’s year-end closing target.” He also mentioned plans for modernizing the property and filling the current vacancy.
Eric Ruehle added that they are looking forward to expanding their presence aggressively over the next year-and-a-half as it is an opportune time for West Harbor Capital to gain market share while creating value for their partners.
This deal marks another successful acquisition by West Harbor Capital as they continue on their path towards growth in this sector.
