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

Los Angeles /
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

arrow_forward_ios
Matt Khourie and David Gilbert (The Center at Needham Ranch)

LA North Studios signs big lease in Santa Clarita

LA North Studios signs big lease in Santa Clarita
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
California is allowing barbershops and salons to reopen under new coronavirus mitigation guidelines (Credit: Noam Galai/Getty Images)

California allows barbershops to reopen, but LA holds back

California allows barbershops to reopen, but LA holds back
LA County assessor Jeffrey Prang

LA County properties valued at nearly $2 trillion…before pandemic

LA County properties valued at nearly $2 trillion…before pandemic
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
Doug Harmon, Chairman of Cushman & Wakefield, and the Mountain of Beverly Hills (Credit: Cushman & Wakefield)

He sold the Willis Tower and the GM Building. But can Doug Harmon sell the Mountain?

He sold the Willis Tower and the GM Building. But can Doug Harmon sell the Mountain?
arrow_forward_ios

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

Loading...