Los Angeles, CA (May 07, 2014) – Circle Industrial, a real estate private equity firm focused on the acquisition, development and operation of industrial properties in Southern California and other major US markets with high barriers to entry (Circle), acquired a two building, sale lease-back portfolio in Rancho Dominguez and Oakland, CA. The Rancho Dominguez property consists of one industrial building containing approximately 57,000 square feet on 3.5 acres with close proximity to the ports of Los Angeles/Long Beach. The Oakland property consists of one industrial building containing approximately 9,000 square feet on 2.2 acres with close proximity to both the Oakland air and seaports.
The Rancho Dominguez property, located at 2757 E Del Amo Blvd, has low site coverage of 37% for ample trailer or material storage which is attractive to both logistics and manufacturing users. The site was acquired at land cost, including a functional warehouse, making future redevelopment optional. The strategic location with close proximity to the ports of Los Angeles and Long Beach makes this 100% leased acquisition a very strong investment.
The Oakland property, located at 8977 Railroad Ave, similar to Rancho Dominguez, has low site coverage and close proximity to the Oakland airport and seaport. It was acquired at land value so likewise has redevelopment potential in the future.
Both properties are leased-back from the prior owner, an international manufacturer and distributor on a five year basis.
Circle Industrial is a real estate private equity firm focused on the acquisition, development and operation of industrial properties in Southern California as well as other major US markets with high barriers to entry. Circle Industrial is led by former Prologis, Inc.(NYSE: PLD)executives Pat Maloney and Eric Omohundro, who have been working and investing together for years while at Prologis and now at Circle Industrial. www.circle-industrial.com