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Staley Point, Bain spring for beer bash
Buy 160,000K sf industrial building fully leased to Anheuser-Busch
UPDATED: Jan. 21, 2022, 11:52 a.m.: It’s not quite a six-pack, but Staley Point Capital and Bain Capital Real Estate are expanding their industrial portfolio in Los Angeles, picking up their fourth asset together in Santa Fe Springs in a deal that comes with Anheuser-Busch as a tenant.
The Los Angeles-based investment firm and Bain bought a 160,000-square-foot complex in Santa Fe Springs for $35 million, or around $219 per square foot, according to an announcement on Tuesday.
Records show the property at 12065 Pike Street was previously owned by Santa Fe Properties.
The building is 100 percent leased to the beverage company, a subsidiary of Belgium-based AB InBev. The property is located at 12065 Pike Street, at the southern edge of Los Angeles County, near the 5 and 605 freeways, and includes 16 distribution doors and a 1.6-acre site for trailer storage.
Since Staley Point’s founding in 2019, the firm has been an active investor in Los Angeles industrial real estate, mostly spending between $20 million and $40 million on assets in the South Bay and the San Fernando Valley.
In December, the firm teamed up with Bain to buy a 103,000-square-foot complex leased to a movie set design firm for $24 million.
Last September, the duo paid $38.5 million for a 132,000-square-foot warehouse in Commerce.
Staley Point is also planning to build developments across the L.A. area. In December, the firm filed plans with the city to build a 100,000-square-foot complex at 22815 West Roscoe Boulevard in West Hills.