CenterPoint Properties acquired a 173,000- square-foot warehouse in Pico Rivera from Moishe Mana, one of Miami’s largest private property owners.
The leaseback deal adds to CenterPoint’s nearly 7 million-square-foot industrial portfolio across the Los Angeles region.
The Chicago-based firm paid $63 million for the complex at 8500 Mercury Lane, said Daum Commercial, which brokered the deal.
Terms of the lease were not disclosed.
The property had been leased to Mana’s GRM Document Management, a document storage firm, records show. Mana could not be reached for comment.
The sale is one of the priciest industrial deals in Los Angeles County in recent months. Staley Point Capital and Bain Capital Real Estate paid $38.5 million this month for a 132,000-square-foot warehouse in Commerce — around $291 a foot, compared to CenterPoint’s $363 a foot.
CenterPoint owns 52 industrial properties across L.A. County and the Inland Empire, according to its website. In Pico Rivera, it also owns a 40,000-square-foot warehouse at 4739 Durfee Avenue, which it purchased for $16.4 million in December.
The post CenterPoint pays Moishe Mana $63M for warehouse appeared first on The Real Deal Los Angeles.
Powered by WPeMatico