Exclusive: Bridge Industrial Lands $60M LA Refi

Bridge Industrial has obtained $60.4 million to refinance BridgePoint South Bay II, a 203,877-square-foot property in Torrance, Calif., according to Yardi Matrix. Barings provided the note.

Previous financing included a $38.5 million note from National Life Insurance Co. in October 2021, the same data provider shows. The company also took out a $9.6 million note from CrossHarbor Capital Partners.

The property came online in 2023 at 2050 Normandie Ave., less than 3 miles from the city center. Los Angeles International Airport is 12 miles away, while downtown Los Angeles is 17 miles northeast.

The building has 32-foot clear heights and about 5 percent of office space. It is LEED Gold-certified and has 21 dock-high loading doors and two at drive-in doors. Additionally, there are 204 parking spaces.

Bridge Industrial is an active developer and investor in the sector. About a year ago, Bridge and CPP Investment formed a $789 million joint venture focused on industrial assets. Bridge Industrial took a 5 percent stake, while CPP holds the other 95 percent. That was the second partnership between the two companies, with their initial develop-to-core venture formed in 2021.

Last year, the firm expanded its California footprint. In November, the firm acquired Building 6 within Sierra Business Park in Fontana, Calif. The firm paid $174.3 million for the 1.1 million-square-foot facility.

LA industrial sector recovers

Greater Los Angeles’ industrial fundamentals have cooled from their recent peak, but the market held steady through 2024 and 2025, a pattern consistent with current industrial market trends across major coastal metros.”. As of the fourth quarter of last year, the metro’s vacancy rate stood at 5.8 percent, up modestly from 5.4 percent a year earlier, according to Kidder Mathews.

Looking ahead, Kidder Mathews anticipates improved conditions in early 2026, supported by stronger leasing and investment activity. Institutional buyers, backed by ample capital and easing interest rates, are expected to remain active, while demand from logistics and advanced manufacturing users should further bolster the market.