Blackstone Unit Sells Los Angeles Asset for $65M

Blackstone’s Link Logistics has sold a 200,000-square-foot industrial asset in City of Industry, Calif., for $65.2 million. MSI Computers Corp. purchased the building in a CBRE-brokered deal. CTBC Bank issued a $36 million acquisition loan, CommercialEdge shows.

This purchase aligns with the Taiwan-based company’s plans to expand its U.S. production lines amid the tariff policy shifts, according to the firm’s filings. MSI will invest $33 million to facilitate this expansion.

The property is at 18045 Rowland St., about 23 miles east of downtown Los Angeles and within walking distance of MSI’s U.S. headquarters. The facility provides easy access to California State Route 60, while interstates 605 and 10 are roughly 9 miles away.

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Built in 1985, the facility has 26-foot clear heights, as well as 18 docks and two drive-in doors. The building also comprises a new office build-out spanning 4,735 square feet.

CBRE Executive Vice President Jason Chao represented MSI. Chao said in a prepared statement the sale reflects an ongoing trend whereby institutional owners are becoming susceptible to selling Southern California assets, particularly older ones.

Los Angeles’ pricy industrial assets

Greater Los Angeles’ industrial investment volume clocked in at $335 million during the first quarter, according to a CommercialEdge report. Phoenix ranked first among Western markets with $449 million worth of assets traded, followed by Orange County ($392 million).

The City of Angels’ average price per square foot was $243 during the first three months, above the national figure of $126, the same source shows. MSI’s purchase stood at $326 per square foot, outperforming both metrics.

Another investor betting on Los Angeles’ industrial market is Turbridge Equities. Last month, the company paid $28 million for a 205,000-square-foot park with a more than 50-year history.