Center Capital Partners and Authentic Capital Group have recently completed the acquisition of two industrial properties in Southern California. The first property is a 200,000-square-foot distribution facility located at 9999 Olson Dr. in San Diego, while the second is a 101,000-square-foot industrial building at 5086 4th St. in Irwindale.
The joint venture between these Los Angeles-based firms was brokered by Eastdil Secured for a total purchase price of $87.5 million.
According to Alex Valner, President and Managing Partner at Center Capital Partners, this acquisition aligns with their investment strategy and marks an important milestone for their partnership as they continue to expand their logistics portfolio.
The property on Olson Dr., which was completed in 1996, is fully leased to FedEx while the Irwindale property has been occupied by Iron Mountain since its completion in 2001. This partnership focuses on acquiring high-quality core-plus and value-add industrial assets located within prime urban infill markets that demonstrate strong supply-demand fundamentals.
