With SoCal industrial market still hot, warehouse firm sells majority stake

Valencia-based AMS Fulfillment operates 550K sf of warehouse space in its home city

Los Angeles /
May.May 13, 2019 01:00 PM
Fort Point partner Christina Pai and AMS chief workforce development officer Ken Wiseman
Fort Point partner Christina Pai and AMS chief workforce development officer Ken Wiseman

In another sign of the continued demand for industrial space in Southern California, warehouse firm AMS Fulfillment sold a majority stake in its business to Fort Point Capital, a Boston-based private equity firm.

AMS operates 550,000 square feet at four centers in its home of Valencia, according to the Los Angeles Business Journal, which first reported on the sale. The companies in the warehouse are primarily in the cosmetics, apparel, footwear and accessories sectors.

The industrial market in and around Los Angeles remains hot hot. Its strength has been attracting an increasing amount of global investors as demand for warehouse space from e-commerce and logistics firms continues to drive the market.

The terms for the AMS deal were not disclosed. Representatives for Fort Point Capital and AMS declined to provide pricing details.

TCF Capital Funding, New Canaan Funding and Siguler Guff & Company provided debt financing for the transaction, according to Fort Point.

AMS CEO Ken Wiseman will now serve as chief workforce development officer, according to the Journal. Betty-Lou Wiseman was promoted from executive vice president of client services to president. Christina Pai, a partner at Fort Point, has been named as the new board chair at AMS. [LABJ]Gregory Cornfield


Related Articles

arrow_forward_ios
(iStock)
Fry’s Electronics, go-to for high tech pros, closes forever
Fry’s Electronics, go-to for high tech pros, closes forever
Photo illustration of Prologis CEO Hamid Moghadam in front of the Greyhound station at 1716 E 7th St. (Getty)
Prologis buys LA Greyhound station for $91M
Prologis buys LA Greyhound station for $91M
Golden Springs Business Center
Logistics firm inks big lease in Santa Fe Springs as industrial demand remains high
Logistics firm inks big lease in Santa Fe Springs as industrial demand remains high
Fire Chief Ralph Terrazas and the fire (Credit: Gary Coronado/Los Angeles Times via Getty Images)
Cannabis warehouse that burned in massive fire was never inspected
Cannabis warehouse that burned in massive fire was never inspected
Jeff Bezos and the IAC Commerce Center (Credit: Phillip Faraone/Getty Images and IAC Commerce Center)
Amazon expands LA footprint with big warehouse lease
Amazon expands LA footprint with big warehouse lease
The development site at 2830-2900 E. Washington Boulevard (Credit: Google Maps)
Camfield Partners plans warehouse-office combo in Boyle Heights
Camfield Partners plans warehouse-office combo in Boyle Heights
The building at 8201 Woodley Avenue and Blackstone CEO Stephen Schwarzman (Credit: Google Maps)
Blackstone pays $83M for pair of industrial properties in Van Nuys
Blackstone pays $83M for pair of industrial properties in Van Nuys
From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)
Rexford Industrial adds to LA portfolio with $100M in acquisitions
Rexford Industrial adds to LA portfolio with $100M in acquisitions
arrow_forward_ios

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

Loading...