Massive industrial park in Los Alamitos sells for nine figures

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

TRD 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
6277 E. Slauson Avenue, and from left: Prologis CEO Hamid Moghadam and Rexford Industrial co-CEOs Howard Schwimmer and Michael Frankel (Credit: Google Maps)

Rexford buys industrial property from Prologis for $41M

NAI Capital Vice President of Research, Marketing, and Communications J.C. Casillas and the Port of Los Angeles (Credit: iStock)

LA’s industrial market may be at max capacity

Transwestern CEO Carleton Riser and the Inland Empire property

Inland Empire’s industrial reign continues as Transwestern buys massive Eastvale warehouse site

Terreno Realty Chairman & CEO W. Blake Baird

Terreno Realty makes another industrial play in LA

From left: Prologis CEO Hamid Moghadam, and Randall L. Stephenson, chairman and CEO of AT&T Inc, with the site

Industrial powerhouse Prologis picks up 11-acre property in Commerce

ASB CEO Robert Bellinger and Columbia Business Park

This industrial deal was one of the biggest acquisitions ever in Inland Empire

CIO Matt Evans, COO Alan Kraft and Todd Platt, CEO of Hillwood with Dedeaux Sycamore Canyon Distribution Park

Dedeaux Properties buys 1M sf industrial portfolio in Inland Empire

Lonzo Ball and the warehouse (Credit: Getty Images)

This just-traded LA Laker just sold his South LA warehouse

arrow_forward_ios
Loading...