Greenlaw Partners buys into Valencia industrial
$41.5M for logistics hub fully leased to Bertelsmann unit
Greenlaw Partners has bought an industrial property in Valencia that’s fully leased to a logistics subsidiary of Germany-based media conglomerate Bertelsmann.
The Irvine-based investment firm purchased a 165,000-square-foot warehouse for $41.5 million — around $251 per square foot, according to property records filed with Los Angeles County.
Greenlaw got a $28.8 million loan from Chicago-based Walton Street Capital in connection with its purchase, records show.
The warehouse was previously owned by The Moulton Company, a family-owned private equity firm based in Irvine. The Moulton Company bought the property from Sares-Regis Group, which built the property, for $21.75 million in 2013.
The warehouse, located at 29011 Commerce Center Drive, is fully leased to Arvato, which provides supply chain logistics, e-commerce and cloud services. Arvato has leased the property since 2002.
Greenlaw Partners has pivoted to industrial over the last year, offloading a 30-acre office campus in Orange County to Amazon for $165 million last year and putting an 18-story office tower in the city of Orange on the market.
Most recently, the company bought a former church site in the San Gabriel Valley to build a 177,000-square-foot Amazon warehouse. Amazon has since backed out of its deal and Greenlaw is currently marketing the property for lease.
Valencia, known for being a more residential enclave of Santa Clarita, is seeing more industrial and studio activity. Rexford Industrial Realty recently built a 111,260-square-foot warehouse in Valencia that is leased to Lief Labs, a dietary supplement maker.