CenterPoint Properties, a leading industrial real estate firm, has recently completed the acquisition of four buildings in the highly sought-after South Bay submarket. Located near the bustling Ports of Long Beach and Los Angeles, these facilities are strategically positioned to serve logistics and distribution needs.
The newly acquired portfolio includes 1111 W. Artesia Blvd., 711 W. Walnut St., 1620 S. Wilmington Ave., and 425 Carob St., totaling an impressive 546,866 square feet of space. This addition brings CenterPoint’s total assets in the South Bay area to an impressive count of thirty properties, along with two ongoing development projects.
According to Evan Lippow, Senior Vice President of Investments for CenterPoint’s West Region: “Acquiring this scale in such a prime location is a rare opportunity.” He further adds that these four assets complement their existing portfolio perfectly and align with their investment strategy focused on accumulating significant presence in top infill logistics markets across the country.
The transaction was brokered by CBRE National Partners’ team consisting Darla Longo , Michael Longo , Joe Cesta , Eric Cox ,and Barbara Perrier . The seller or sellers have not been disclosed by CenterPoint at this time.
This recent acquisition strengthens CenterPoint’s position as one of the key players driving growth and development within Southern California’s industrial market.
