Longpoint, a real estate private equity firm based in Boston, has recently acquired three industrial buildings in Los Angeles County. These properties have a combined total of 321,479 square feet and are located in the City of Industry and Commerce. The John Reed Commerce Center consists of 15 buildings while the other two properties are located on Supply Ave. and Corvette St.
According to Dwight Angelini, managing partner at Longpoint, these acquisitions present an excellent opportunity to acquire well-located industrial assets within Southern California’s prime logistics and distribution hubs. He also mentioned that their focus is on expanding their portfolio within California’s highly sought-after industrial market.
The transaction for the John Reed Commerce Center was brokered by Cushman & Wakefield National Industrial Advisory Group while Colliers’ Alex Blecksmith handled the transactions for Supply Ave. and Corvette St. Longpoint plans to make necessary improvements across all three properties before leasing out any remaining vacancies to local distributors or e-commerce tenants.
This recent acquisition by Longpoint showcases their commitment towards investing in high-quality assets with attractive pricing strategies within desirable locations like Southern California’s thriving industrial market.
