Staley Point Capital, a value-add investor focused on infill industrial properties, has acquired 2425 Saybrook, a 42,000 square foot warehouse in Commerce, CA, for $12.95 million.
The property has seven dock high positions and an expansive yard for logistics tenants. Currently, the asset is 100% leased to DCG Distribution, a warehousing and trucking company. This represents Staley’s second investment in Commerce, CA following the purchase of cross-dock warehouse, 2187 Garfield.
The deal was completed as a joint venture between Staley Point and Bain Capital Real Estate.
“We are excited to close our second acquisition in Commerce,” said Eric Staley, managing director of Staley Point. “The asset’s proximity to major population centers, ample loading and excess yard make it ideal for a high throughput last-mile logistics tenant.”
Winston & Strawn served as legal counsel to Staley Point Capital for the transaction. JLL represented both the buyer and seller and JLL Capital Markets will arrange the loan financing.