Prologis Acquires Infill Industrial Site for Land Value

Prologis Acquires Infill Industrial Site for Land Value

CBRE arranged the sale of a 1.43-acre infill industrial site in Lynwood to Prologis for an undisclosed price. Mark Shaffer, Anthony DeLorenzo, Gerard Poutier, Bryan Johnson and Nick Williams with CBRE Investment Properties—California/Arizona/Nevada along with Greg Dyer and Ryan Wengart from CBRE’s Los Angeles South Bay office represented the seller 11511 Bellinger Holdings LLC.

Located at 11511 Bellinger St., the property includes an unoccupied 34,436-square-foot industrial facility that was built in 1930 and supports potential various outside storage uses such as truck and trailer parking. According to Shaffer “Port-served infill industrial sites continue to see strong interest from discerning capital given solid underlying fundamentals despite a relative slowdown.” He further added “Demand continues to outpace supply which could lead to another year of double digit rent growth.”

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

Share the Post:

Related Posts