THE ANGEL, January 18, 2022 /PRNewswire/ — Staley Point Capital (“Staley point“), a value-add investor focused on infill industrial real estate, today announced the off-market acquisition of 12065 Pike St, a 159,964 square foot infill industrial property Santa Fe Springs, California, Per 35 million dollars. The transaction that represents a purchase price of $219 per square meter or $98 per land square foot, is Staley Points fourth investment in the Mid-Counties.
The state-of-the-art facility is 25 feet free, temperature controlled and 100% leased to Anheuser-Busch. The property features first class amenities including 16 dock high positions, 2500 amp electricity and a 4 acre adjacent yard for trailer storage. In addition, the property has an on-site gas station, truck maintenance workshop and independent trucking office. The property is ideal for a food and beverage occupier due to the physical specifications and proximity to major demand drivers such as Crypto.com Arena, Dodger Stadium, SoFi Stadium and downtown LA’s bars and restaurants.
“We are pleased to complete this acquisition in one of the fastest growing rental markets in the country,” said Eric Staley, Staley Point’s Managing Director. “The combination of physical amenities, creditworthiness and central location makes this a compelling addition to our growing West Coast portfolio.
The acquisition was completed through a joint venture between Staley Point Capital and Bain Capital Real Estate. The vehicle has been an active acquirer of infill industrial sites near densely populated centers on the other side Southern California and on the West Coast since launch in September 2020. Most recently, Staley Point acquired 18689 Arenth, a 97,000 square foot warehouse in City of Industry, CA Per $22.0 million and 2425 Saybrook, a 42,000 square foot warehouse location in Commerce, CA for $12.95 million. Other purchases in the Santa Fe Springs Area include 11804 Wakeman Street (55,000 square meters for $12.8 million), 10907 Painter Avenue (58,000 square feet for $14.3 million) and 13767 Freeway Drive (83,000 square feet).
Winston & Strawn, LLP acted as legal counsel to Staley Point Capital on the transaction. Nublock Partners represented both the buyer and seller and JLL Capital Markets will arrange the debt financing.
About Staley Point Capital
Staley Point Capital is a The angel-based real estate investment company. The law firm was founded in 2019 by Kevin Staley and focuses on acquiring value-added and opportunistic real estate investments primarily in the industrial sector. Remarkable Southern California investments are included The citadel in the Trade City, Magellan Gateway in The mountain and a self-storage portfolio, Magellan Storage. To learn more, visit www.staleypoint.com.
Mickey Mandelbaum, Prosek partner
Aidan O’Connor, Prosek partner
SOURCE Staley Point Capital