Blackstone Group paid $62 million for a data center in Southeast Los Angeles, continuing its push for industrial space.
The 461,000-square-foot property is located at 8700 Mercury Lane in Pico Rivera. The seller was information management company Iron Mountain, which paid $16.6 million for the land in 2012, county records show. The firm appears to have built the data center.
Blackstone purchased the property through B Core Mercury Lane Owner LLC, an entity with a listed address at Chicago’s Willis Tower, which is headquarters of Blackstone’s Revantage Corporate Services.
Locally,, Blackstone in March paid $83 million for two adjoining industrial buildings in Van Nuys. In June 2019, the firm acquired $18.7 billion of warehouse assets across the U.S., making it one of the largest industrial real estate deals in history. The properties span 179 million square feet overall, and Blackstone purchased the properties from the Singapore company GLP Pte.
And earlier this month, Blackstone closed a $1.65 billion deal to purchase 49 percent of Hudson Pacfic Properties’ portfolio of largely Netflix-leased Hollywood offices and soundstages.
Iron Mountain has stored master sound recordings of artists on the Sony and Warner music conglomerates in L.A. Calls to Iron Mountain on Monday were not returned.
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