Clarion pays $77M for La Mirada industrial project

This is the first time the 337K sf property has traded since Bailard built it 20 years ago

Oct.October 23, 2019 08:20 AM
La Mirada industrial building
La Mirada industrial building

Clarion Partners bought an industrial infill project in La Mirada, in a deal that Cushman & Wakefield called one of the top five industrial trades this year.

Clarion paid $76.8 million for the 337,000-square-foot property from Bailard Inc., a San Francisco-based wealth management and investment adviser. The deal worked out to $228 per square foot.

Bailard built the two-building property at 14001-14051 Rosecrans Ave. in August 1997, and this deal marks the first time it has traded hands. The buildings are fully leased and the property spans over 14 acres.

Jeff Chiate, of Cushman’s industrial group, brokered the transaction.

Industrial properties in Los Angeles County continue to command big dollars given demand from distribution, e-commerce companies and data centers. A recent CBRE report showed more than $7.4 billion worth of industrial properties trading in L.A. and neighboring markets this year, on pace for a record year.

Other active industrial players in the market include Rexford Industrial Realty and Prologis.

Related Articles

LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Clarion CEO David Gilbert, Rockpoint co-founders Keith Gelb and Bill Walton, and one of Rockpoint’s Torrance properties (Credit: iStock)

Clarion Partners pays $126M for Torrance multifamily portfolio

Long Beach area and San Fernando Valley attract biggest industrial sales in 2019

Here are LA County’s biggest industrial sales of 2019

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

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Rexford co-CEO Michael Frankel, 12752-12822 Monarch St. in Garden Grove, 508 East E St. in Wilmington and Rexford co-CEO Howard Schwimmer (Credit: Google Maps)

Rexford Industrial nears $1B in SoCal acquisitions this year