CenterPoint pays $114M for Santa Ana logistics facility

Three-building hub on Harbor Boulevard spans 400,000 sf across 20-acre site

Los Angeles /
Oct.October 28, 2021 10:15 AM
CenterPoint Properties CEO Bob Chapman and one of the industrial properties (LoopNet, CenterPoint)
CenterPoint Properties CEO Bob Chapman and one of the industrial properties (LoopNet, CenterPoint)

The latest sign of a scorching hot industrial market: CenterPoint Properties is now picking up properties three buildings at a time.

The industrial investor, based in the Chicago suburb of Oakbrook, Illinois, recently paid $114 million for a three-building logistics facility in Santa Ana, according to the Orange County Business Journal. The price comes to about $130 per square foot. The properties are located at 2701, 2711 and 2721 South Harbor Boulevard.

The transaction was brokered by Rob Socci of Voit Real Estate Services and John Griffin of Cushman & Wakefield.

The logistics facility sits on 20 acres and spans 400,000 square feet, featuring 650 spaces for parking. It is almost fully leased; Liquid Graphics and Robinson Pharma are the two largest tenants, according to the Business Journal.

CenterPoint is a major player in the industrial real estate market of Orange County. The company already owns the former Albertsons grocery distribution building in Irvine and the former J.C. Penney facility in Buena Park.

A few weeks ago, CenterPoint purchased a two-acre warehouse in Torrance for an undisclosed price. The building encompasses more than 52,000 square feet and is situated 12 miles from the ports of Los Angeles and Long Beach.

Last month, CenterPoint acquired a 173,000-square-foot warehouse in Pico Rivera from Moishe Mana for $63 million in a deal that expanded the company’s 52-property industrial portfolio in Los Angeles County and the Inland Empire.

It’s a hot time for industrial real estate in Orange County. The average rent for industrial real estate in Los Angeles rose to $1.14 per square foot in the third quarter, a 3.6 percent rise from the second quarter. Meanwhile, the vacancy rate dropped from 1.7 percent to 1.4 percent in the third quarter.

[OCBJ] — Holden Walter-Warner





    Related Articles

    arrow_forward_ios
    J.P. Morgan's Mary Callahan Erdoes and Water Garden at 1620 26th Street in Santa Monica (Getty, Water Garden LA)
    Water Garden asking price: $1.4B
    Water Garden asking price: $1.4B
    Diane Shammas and rendering of proposed Ford dealership (Pitzer College, Felix Chevrolet, Getty)
    Shammas family plans New Ford dealership in DTLA
    Shammas family plans New Ford dealership in DTLA
    Burnham Ward Properties' Bryon Ward, Bellwether Financial Group's Joe Ueberroth and R.D. Olson's Bob Olson with a rendering of the redeveloped Dana Point Harbor (Burnham Ward, Bellweather Financial Group, RDO Development, Dana Point Harbor Partners)
    OC developers unveil “coastal vintage” look for Dana Point Harbor
    OC developers unveil “coastal vintage” look for Dana Point Harbor
    Map of Bloomington Business Park, bordered by Santa Ana, Jurupa, Maple Avenue, Linden and Alder avenues, Bloomington (San Bernardino County, Getty)
    Howard Industrial wins OK for 213-acre industrial park in IE
    Howard Industrial wins OK for 213-acre industrial park in IE
    Onni Group President Rossano De Cotiis with renderings of 200 N. Long Beach Boulevard in Long Beach and 6091 W. Santa Monica Boulevard in Hollywood (IBI Group, Kilograph)
    Onni Group to replace apartments with hotel suites in Long Beach and Hollywood
    Onni Group to replace apartments with hotel suites in Long Beach and Hollywood
    Ratkovich Company's Brian Saenger and the West Harbor project (Ratkovich Company, West Harbor)
    Ratkovich JV scores $90M in energy and construction financing for West Harbor
    Ratkovich JV scores $90M in energy and construction financing for West Harbor
    Hoag's Robert Braithwaite with 16200 Sand Canyon Avenue ( Hoag Hospital Foundation, Getty)
    Hoag Hospital Irvine launches $1B expansion
    Hoag Hospital Irvine launches $1B expansion
    Commercial real estate, Anaheim, Angel Stadium, Angeles, Arte Moreno, Jose Moreno, stadium lease, team sale
    Anaheim may stick Angels with major stadium upgrade costs
    Anaheim may stick Angels with major stadium upgrade costs
    arrow_forward_ios

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

    Loading...