Los Angeles – Transwestern Investment Group (TIG®) announces it has acquired Arenth Commerce Center. Located at 17891 – 17907 Arenth Ave. in Los Angeles, the two-building industrial property totals 90,318 square feet.
“This investment complements our strategy to aggregate a portfolio of infill industrial assets in and around the Los Angeles market,” said John Higgins, Director of Acquisitions at TIG. “The property presented an opportunity to acquire an asset well below replacement cost in a landlord-friendly leasing environment with near-term rollover of existing tenants and rents well below market. The asset consists of one single-tenant and one multitenant building with staggered rollover and a variety of suite sizes providing attractive diversification within the property.”
Arenth Commerce Center is fully leased, with ELA Lighting occupying the entire 49,000-square-foot building at 17891 Arenth Ave. TIG plans to invest in capital projects to improve the overall aesthetic and function of the property, including exterior paint and landscaping, signage and parking lot repairs.
The property is in the City of Industry submarket, which has consistently been a top-performing industrial market across the nation. With a vacancy rate below 1.5% at the end of 2019, the City of Industry submarket has averaged more than 9% annual rent growth since 2014.
The location provides tenants with exceptional transportation and logistics options, including easy access to Highway 60 and interstates 10 and 605. The property is approximately 15 miles from Ontario International Airport, 34 miles from Hollywood Burbank Airport, and 40 miles from both Los Angeles International Airport and John Wayne Airport. It also offers a 41-mile rail bypass that connects the region directly with the Ports of Los Angeles and Long Beach. With more than 50 major trucking lines franchised within the City of Industry submarket, tenants can provide overnight delivery services to all of California, as well as Phoenix and Las Vegas.
Transwestern Real Estate Services (TRS) will provide property management services for the property. Cameron Merrill and Case Dahlen of CBRE are providing leasing services. Michael Kendall, Gian Bruno, John Archibald and Peter Lee of Colliers International represented the undisclosed seller.
About Transwestern Investment Group
Transwestern Investment Group (TIG®) is a real estate investment adviser with $4.6 billion of assets under management as of year-end 2019. Part of the Transwestern companies, the firm serves a broad range of clients through a diversified array of discretionary and non-discretionary investment vehicles.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
The clients included in this press release were not selected based on performance, but because they are some of the largest well-known clients with similar strategic alliances. It is not known whether these clients approve or disapprove of TIG or the services or products it provides.
Media Contact:
Stefanie Lewis
713.272.1266
stefanie.lewis@transwestern.com
twmediarelations@transwestern.com