Massive industrial park in Los Alamitos sells for nine figures

The 17-building property in Los Alamitos is 98-percent leased to 82 tenants

Los Angeles /
Jul.July 22, 2019 03:00 PM
Northwestern Mutual CEO John E. Schlifske and the building
Northwestern Mutual CEO John E. Schlifske and the building

Southern California’s industrial market hasn’t cooled down a bit this summer.

Alere, a pension fund advisor, has purchased the Los Alamitos Corporate Center for $128.5 million.

Northwestern Mutual was the seller of the 17-building industrial park along Cerritos Avenue and Corporate Center Drive in Los Alamitos, according to CBRE. The property is 98-percent leased to 82 tenants.

The corporate center spans 37 acres with 685,588 square feet of industrial space. It’s located three miles from the I-405/I-605 freeway interchange.

Los Alamitos is at the northwest border of Orange County near Long Beach in a submarket referred to as the Mid-Counties. Earlier this year, printing company Epson signed a lease for 150,000 square feet in Los Alamitos for its new U.S. headquarters.

Industrial vacancy in Orange County stayed at an all-time low in the first part of the year, driven by steady demand, despite occupancy challenges, according to CBRE research.

Meanwhile, Northwestern Mutual recently purchased a 1.5-million-square-foot warehouse for $213.5 million in the Inland Empire, which is one of the hottest industrial markets in the country.

Southern California has been the most active spot in the country for industrial real estate and investment, and the market is expected to perform well with both rent growth and absorption expected to outpace last year.

CBRE’s Darla Longo, Barbara Perrier, Brett Hartzell, Rebecca Perlmutter Finkel, Eric Cox and Laird Perkins represented the seller.


Related Articles

arrow_forward_ios
USPS nears lease for 100K sf distribution center in City of Industry
USPS nears lease for 100K sf distribution center in City of Industry
USPS nears lease for 100K sf distribution center in City of Industry
California law clamps down on unsafe warehouse work conditions
California law clamps down on unsafe warehouse work conditions
California law clamps down on unsafe warehouse work conditions
Stanley Point Capital Founder Kevin Stanley and the warehouse (Stanley, Google Maps)
Staley Point, Bain Capital buy another industrial complex
Staley Point, Bain Capital buy another industrial complex
Overton Moore Properties CEO Timur Tecimer with an aerial of the property (Google Maps, OMP)
Gardena industrial complex sells to Overton Moore Properties for $35M
Gardena industrial complex sells to Overton Moore Properties for $35M
(Getty Images)
SoCal’s “Space Beach” is ready for liftoff
SoCal’s “Space Beach” is ready for liftoff
Oxford Properties CEO Michael Turner and the campus (Oxford)
Oxford moves into LA with $134M industrial buy
Oxford moves into LA with $134M industrial buy
Hager Pacific picks up 145K sf industrial complex in South Bay
Hager Pacific picks up 145K sf industrial complex in South Bay
Hager Pacific picks up 145K sf industrial complex in South Bay
Amazon founder Jeff Bezos with a rendering of the Moorpark warehouse (Daum Commercial, Getty)
Amazon inks lease for last-mile warehouse in SoCal
Amazon inks lease for last-mile warehouse in SoCal
arrow_forward_ios

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

Loading...