Staley Point Capital, Bain make industrial play for $24M

103K sf building in Sylmar leased to movie set design firm

Los Angeles /
Dec.December 10, 2021 11:00 AM
Staley Point’s Kevin Staley and Bain Capital Real Estate’s Andrew Terris and 12450 Foothill Boulevard (Staley Point, Bain Capital, LoopNet)
Staley Point’s Kevin Staley and Bain Capital Real Estate’s Andrew Terris and 12450 Foothill Boulevard (Staley Point, Bain Capital, LoopNet)

Staley Point Capital has once again teamed up with Bain Capital, this time to acquire a warehouse in Sylmar.

The Los Angeles-based firm bought a 104,000-square-foot property at 12450 Foothill Boulevard for $24 million through a joint venture with Bain, according to an announcement on Thursday.

The deal comes out to around $230 per square foot — slightly less than the duo’s last deal in Commerce, which came out to $291 a foot.

A manufacturer based in Sun Valley, Marfred Industries, previously owned the property, records show.

In July, Staley Point and Bain bought a 135,000-square-foot industrial property in Torrance for $34.5 million, or $255 a foot. Two months later, the firms joined forces again to buy a $38.5 million warehouse at 2187 Garfield Avenue in Commerce.

The firms “expect to invest further in the region in 2022,” Staley Point’s Eric Staley said in a statement.

However, the Sylmar building has more than just industrial features. The firms are also capitalizing on the booming content creation sector with their purchase.

The building is fully leased to Vision Scenery, which constructs sets for movies and TV studios, and is configured for production, which “ensures long-term, robust demand from the studio and content creation sectors.”





    Related Articles

    arrow_forward_ios
    ART: Mercury Air Cargo president John Peery and 8900 Bellanca Avenue (Mercury Air Cargo, Mohr Partners)
    Key logistics link leases 163K sf site near LAX
    Key logistics link leases 163K sf site near LAX
    Hines finds a Penney among $250M in SoCal buys
    Hines finds a Penney among $250M in SoCal buys
    Hines finds a Penney among $250M in SoCal buys
    Jeff Bezos and Randy Kendrick and 3301 Medford Street (Getty, Xebec Realty, Google Maps)
    Amazon to open 202K sf warehouse in East LA
    Amazon to open 202K sf warehouse in East LA
    Rexford co-CEOs Michael Frankel and Howard Schwimmer and 8911 Aviation Boulevard (Wexford Industrial, Google Maps)
    Rexford takes a flyer on Inglewood industrial
    Rexford takes a flyer on Inglewood industrial
    Randy Kendrick, chief executive officer, Xebec Realty, and 12975 Bradley Avenue in Sylmar, CA (Xebec Realty, LoopNet)
    Xebec looks to flip Sylmar industrial to self
    Xebec looks to flip Sylmar industrial to self
    Distress specialist buys Santa Barbara hotel
    Distress specialist buys Santa Barbara hotel
    Distress specialist buys Santa Barbara hotel
    Kevin Staley, managing partner, Staley Point Capital; Andrew Terris, managing director, real estate, Bain Capital; and view of 12065 Pike Street (Google Maps, Bain Capital, Staley Point)
    Staley Point, Bain spring for beer bash
    Staley Point, Bain spring for beer bash
    Rexford Industrial Realty co-CEOs Michael Frankel and Howard Schwimmer and property at 4240 West 190th Street (Wexford Industrial Realty, Newmark)
    Rexford’s latest in South Bay brings 307K sf
    Rexford’s latest in South Bay brings 307K sf
    arrow_forward_ios

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

    Loading...