Four facilities, two ports
In an acquisition near two major West Coast ports, Centre Point Properties has added four buildings to its portfolio. The company is moving into the South Bay industrial submarket, which is located near the ports of Long Beach and Los Angeles. It now manages 30 total assets and two active development projects.
“The South Bay submarket has an established track record of low vacancy, high rental growth and high barriers to entry for new development,” says Bob Andrews, Center Point’s senior vice president of asset management in the west region.
Together, the facilities total over 46,451 sqm. Equipped with 113 dock-high loading positions and twelve ground-level loading doors, the hubs will strengthen Centre Point’s market position in the area. The company is also working on a 10,535 sqm property in South Bay. (mk)