Brookfield scoops up Carson industrial properties for $64M

Deal includes 300K sf warehouse and site that covers 20 acres

TRD LOS ANGELES /
Jun.June 03, 2020 01:00 PM
Brookfield Asset Management CEO Bruce Flatt
Brookfield Asset Management CEO Bruce Flatt

Brookfield Asset Management has purchased a pair of neighboring industrial properties in the South Bay city of Carson.

The global firm paid $64 million for 2001 E. Dominguez Street and 20740 S. Wilmington Avenue, property records show. The East Dominguez Street warehouse is about 300,000 square feet, and the larger of the two.

The seller was Western Tube & Conduit Corporation, which manufactures electrical conduit products. The company has been owned by Canadian steel tubing giant Zekelman Industries since 2017.

Brookfield recently completed the first phase of a $170 million renovation of the California Market Center in Downtown Los Angeles.

The two Carson properties total about 19.5 acres and were built between the 1950s and late ‘70s, according to information available through the L.A. County Assessor. The parcels are part of a large industrial district in central Carson.

Brookfield did not immediately return a request for comment and representatives for Western Tube and Zekelman could not be reached.

Carson’s economy is dominated by the industrial sector, but the city has received attention from developers for other uses.

Texas-based JPI wants to build a 1,000-unit mixed-use development on 20 acres in the city. And Energy Capital Partners is planning an 80-acre sports complex with backing from Tiger Woods.

Macerich and Simon Property Group planned to develop a large outlet retail center off Interstate 405, which bisects the city, but those plans fell through earlier this year because of a dispute over environmental remediation. The developers sued the city of Carson in early May.


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