Chicago buyer for Woodland Hills manufacturing complex

Walton Street Capital spends $60M on former HQ for boat builder Catalina Yachts

Chicago /
Feb.February 24, 2022 11:30 AM
Walton Street Capital's Eric Mogentale, Jeffrey Quicksilver, Robert Bloom and Richard Ratke with Woodland Hills with 21200 Victory Boulevard in Woodland Hills (Walton Street Capital, Google Maps)

Walton Street Capital’s Eric Mogentale, Jeffrey Quicksilver, Robert Bloom and Richard Ratke with Woodland Hills with 21200 Victory Boulevard in Woodland Hills (Walton Street Capital, Google Maps)

Chicago-based investment firm Walton Street Capital has bought a manufacturing facility in Woodland Hills, California, with plans to redevelop it into a Class A complex.

An affiliate of the firm spent $60 million to buy the 183,000-square-foot property at 21200 Victory Boulevard, Los Angeles County records show. Walton Street Capital announced the deal last week, but didn’t disclose the price.

The company scored a $52.5 million loan from Mesa West, a Los Angeles-based commercial lender, to purchase the property, according to loan documents filed with the county.

The property was previously owned by an entity linked to Frank Butler — the founder of sailboat builder Catalina Yachts, who passed away in November of 2020. Catalina Yachts had occupied the space for its headquarters.

Located across nine acres of “underutilized land,” the site is primed for redevelopment into a modern industrial building that can be leased to multiple firms, Walton Street’s Andrew Gindy said in a statement.

Walton Street Capital’s industrial purchase comes amid historically low vacancy rates for all industrial properties across Los Angeles and the San Fernando Valley. Around 1.1 percent of all properties were vacant across the Valley in the fourth quarter of last year, according to Newmark.

It’s not the firm’s first industrial buy. Last month, Walton Street bought a newly built, 183,000-square-foot complex in the Inland Empire for $70 million. The property is fully leased to PAE Technologies, a contractor for the U.S. Post Office.

Recently, the company and Greenlaw Partners put up a 350,000-square-foot office complex in Orange County up for sale, with an asking price of $100 million.





    Related Articles

    arrow_forward_ios
    Bears George McCaskey with Soldier Field
    Minor league baseball complex aired for new Chicago Bears stadium
    Minor league baseball complex aired for new Chicago Bears stadium
    Fritz Kaegi (iStock)
    Chicago Assessor Kaegi wins primary, fending off trade union challenge
    Chicago Assessor Kaegi wins primary, fending off trade union challenge
    The John Buck Company's chairman and CEO John A. Buck II in front of a rendering of the planned two-tower office building project at 655 West Madison Street (The John Buck Company, Juan Gabriel Moreno Architects, iStock)
    John Buck shifts to two-tower plan for West Loop project
    John Buck shifts to two-tower plan for West Loop project
    Belgravia Group's chairman Alan D. Lev and 1319 East Golf Road in Schaumburg (Belgravia Group, Google Maps, iStock)
    Belgravia cashes out of Chicago PGA store with $19M pandemic flip
    Belgravia cashes out of Chicago PGA store with $19M pandemic flip
    311 W Walton Street (LoopNet)
    River North office building triples in value since 2014
    River North office building triples in value since 2014
    Citadel's Ken Griffin (Citadel, iStock)
    Miami nabs another big name as Citadel’s Griffin shifts HQ
    Miami nabs another big name as Citadel’s Griffin shifts HQ
    Kohan's Mike Kohan with Spring Hill Mall (Kohan, Google Maps, iStock)
    NY’s Kohan Retail owes property taxes on suburban Chicago mall
    NY’s Kohan Retail owes property taxes on suburban Chicago mall
    DMG's Roger Daniel and 40 & 60 West Main Street (DMG Capital, Google Maps)
    DMG Capital snags suburban Chicago multifamily in pandemic flip
    DMG Capital snags suburban Chicago multifamily in pandemic flip
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...