{"id":1004724297,"date":"2024-08-06T04:13:48","date_gmt":"2024-08-06T12:13:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004724297"},"modified":"2024-08-06T04:23:49","modified_gmt":"2024-08-06T12:23:49","slug":"staley-point-jv-acquires-2-facilities-for-43m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/staley-point-jv-acquires-2-facilities-for-43m\/","title":{"rendered":"Staley Point, Bain Capital Buy 2 SoCal Assets"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/2325-Moore-Avenue.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004724300\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/staley-point-jv-acquires-2-facilities-for-43m\/2325-moore-avenue\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/2325-Moore-Avenue.jpg\" data-orig-size=\"1000,750\" 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;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&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=\"2325 Moore Avenue\" data-image-description=\"&lt;p&gt;The facility at 2325 Moore Ave. in Fullerton, Calif.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 162,000-square-foot facility comprises 26 dock-high loading doors and temperature-controlled features. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/2325-Moore-Avenue.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/2325-Moore-Avenue.jpg\" alt=\"The facility at 2325 Moore Ave. in Fullerton, Calif.\" class=\"wp-image-1004724300\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/2325-Moore-Avenue.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/2325-Moore-Avenue.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/2325-Moore-Avenue.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">The 162,000-square-foot facility comprises 26 dock-high loading doors and temperature-controlled features.<em> Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A joint venture of Staley Point Capital and Bain Capital Real Estate has acquired two industrial properties for a combined $42.6 million. It acquired a 162,000-square-foot facility in Fullerton, Calif., and a 70,000-square-foot warehouse in Chatsworth, Calif.<\/p>\n\n\n\n<p>Van Law Food Products sold the Fullerton asset for $30.1 million, according to CommercialEdge information. Siegel &amp; Associates sold the facility in Chatsworth.<\/p>\n\n\n\n<p>The news comes on the heels of the duo\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/staley-point-jv-sells-2-orange-county-assets-for-53m\/\">disposition of two Orange County assets<\/a> for $53.3 million last month.<\/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\/cre-midyear-outlook-the-calm-after-the-storm\/\">CRE Midyear Outlook: The Calm After the Storm<\/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 Fullerton facility features 26 dock-high loading doors and concrete truck courts, as well as temperature-controlled improvements. It is fully leased to the previous owner. Completed in two phases in 1958 and 2007, the warehouse is at 2335 Moore Ave., close to the Fullerton Municipal Airport and 7 miles from downtown Anaheim.<\/p>\n\n\n\n<p>The other building came online in 1988 and is a manufacturing facility fully leased to Moog, an aerospace and defense company, according to CommercialEdge. The property is at 21339 Nordhoff St., some 28 miles from downtown Los Angeles and 30 miles from Los Angeles International Airport.<\/p>\n\n\n\n<p>This deal marked the joint venture&#8217;s fifth purchase year-to-date, bringing the total to $87 million in acquisitions, all in West Coast infill industrial assets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-two-high-performing-markets\">Two high-performing markets<\/h2>\n\n\n\n<p>Los Angeles and Orange County were among the best performing markets across the U.S., especially in terms of <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-industrial-transactions\/\">industrial investment volume<\/a>. Los Angeles assets traded for $311 per square foot on average this year through June, with volume totaling nearly $1.6 billion, the latest <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial-development-pipeline-slows-down\/\">CommercialEdge industrial report<\/a> shows. Orange County had $651 million in deals, with assets changing hands for $340 per square foot on average.<\/p>\n\n\n\n<p>In March, <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-closes-1b-in-industrial-portfolio-sales\/\">Blackstone Real Estate sold a 3 million-square-foot industrial portfolio<\/a> for $1 billion or $332 per square foot. Rexford Industrial Realty purchased the 48 properties in separate transactions, which included sellers Blackstone Property Partners, as well as Blackstone Real Estate Partners and Blackstone Real Estate Income Trust.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The industrial properties total 232,000 square feet.<\/p>\n","protected":false},"author":3355,"featured_media":1004724300,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,1594,21742,34267,15],"tags":[45194,52133],"class_list":["post-1004724297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-los-angeles","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) - 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