{"id":1004723169,"date":"2024-07-30T02:14:52","date_gmt":"2024-07-30T10:14:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004723169"},"modified":"2024-07-30T05:55:39","modified_gmt":"2024-07-30T13:55:39","slug":"staley-point-jv-sells-2-orange-county-assets-for-53m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/staley-point-jv-sells-2-orange-county-assets-for-53m\/","title":{"rendered":"Staley Point, Bain Capital Sell 2 Orange County Assets"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/5609-River-Way.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004723176\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/staley-point-jv-sells-2-orange-county-assets-for-53m\/5609-river-way\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/5609-River-Way.jpg\" data-orig-size=\"4925,3694\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1616936958&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"5609 River Way\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/5609-River-Way.jpg?w=1024\" height=\"768\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/5609-River-Way.jpg?w=1024\" alt=\"5609 River Way, Buena Park, Calif.\" class=\"wp-image-1004723176\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/5609-River-Way.jpg 4925w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/5609-River-Way.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/5609-River-Way.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/5609-River-Way.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/5609-River-Way.jpg?resize=1536,1152 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/5609-River-Way.jpg?resize=2048,1536 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">The warehouse at 5609 River Way came online in 2009. <em>Image courtesy of Staley Point Capital<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Staley Point Capital and Bain Capital Real Estate have sold two industrial assets in Buena Park, Calif., after only two years of ownership. A consumer products business paid $53.3 million for the neighboring facilities.<\/p>\n\n\n\n<p>The deal marks the joint venture&#8217;s fifth disposition over the past 24 months for a combined aggregate amount of $231 million.<\/p>\n\n\n\n<p>The properties at 5530 Beach Blvd. and 5609 River Way total 183,000 square feet on 9.2 acres in a highly sought-after area. They were <a href=\"https:\/\/www.commercialsearch.com\/news\/staley-point-jv-buys-2-orange-county-industrial-assets-for-41m\/\">acquired in March 2022<\/a> for $41 million, in a sale-leaseback deal that was financed by a $32.4 million loan from Mesa West Capital.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/transactions-july-2024\/\">Transactions &#8211; July 2024<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The warehouses are just off Highway 39, providing direct access to Interstate 5. They are also at the intersection of Los Angeles and Orange County, two of the most supply-constrained markets in the country due to a structural supply-demand imbalance.<\/p>\n\n\n\n<p>Additionally, Orange County is supported by the <a href=\"https:\/\/www.commercialsearch.com\/news\/cracks-showing-in-port-industrial-markets\/\">Ports of Los Angeles and Long Beach<\/a>, which have experienced double-digit year-over-year import growth in nine of the past 10 months.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-low-on-sales-high-on-rents\">Low on sales, high on rents<\/h2>\n\n\n\n<p>The Orange County industrial market has witnessed an investment volume amounting to $651 million in the first half of the year, according to a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial-development-pipeline-slows-down\/\">CommercialEdge report<\/a>. The county lagged all other California metros such as the Bay Area (nearly $2.3 billion in sales), Los Angeles (some $1.6 billion) and the Inland Empire ($893 million).<\/p>\n\n\n\n<p>However, the market had the highest average value for industrial rents in the U.S., clocking in at $15.69 as of June, and was one of the top three markets in California for rent growth (8.6 percent). The Inland Empire led the ranking (12.5 percent), followed by Los Angeles (12.0 percent).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The properties traded at a significant premium to their previous sale just two years ago. <\/p>\n","protected":false},"author":3568,"featured_media":1004723176,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,34267,15],"tags":[45194,52133],"class_list":["post-1004723169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-orange-county","category-west","tag-bain-capital-real-estate","tag-staley-point-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Staley Point, Bain Capital Sell 2 Orange County Assets - 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