Ocean West Capital Partners has made a significant investment in the logistics industry with the acquisition of five properties worth almost $100 million. These properties, totaling 1.83 million square feet, are located in California’s Inland Empire and Central Valley regions. The identities of the sellers have not been disclosed.
The portfolio includes four industrial outdoor storage (IOS) facilities spanning over 921,729 square feet on a combined area of 21.2 acres in San Bernardino and Fontana submarkets. All these properties were recently built in 2023.
According to Ryan Tucker, principal at Ocean West Capital Partners, this purchase is perfectly aligned with their belief in the long-term growth potential of the industrial sector.
In addition to this portfolio acquisition, Ocean West also completed an off-market sale-leaseback deal for an advanced manufacturing facility covering an area of 908,000 square feet located in Hanford. This facility serves as Faraday Future’s headquarters for luxury electric vehicle production and was recently renovated by them into a state-of-the-art EV auto manufacturing plant equipped with nearly 28 amps power supply.
This news was first reported by Connect CRE website.
