CenterPoint acquires facility in Gardena

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CenterPoint Properties has acquired a 10,801 square foot building at 540 W. 132nd St. in Gardena. The property offers the investor a 6.5 hectare accumulation in the highly desirable industrial submarket.

CenterPoint acquired the largest lot in the cluster, 13217 S. Figueroa St., in 2018. Last month, the company secured the second of three lots at 506 W. 132nd St.
Both properties on 132nd Street were acquired vacant. 540 W. 132nd St. is available for rent now.

“We are proud to acquire CenterPoint’s 69th asset in Southern California. Notably, this is CenterPoint’s 10th South Bay acquisition in the last 12 months,” Evan Lippow, senior vice president of investments in CenterPoint’s West Region, said in a statement.

“This investment continues CenterPoint’s long-term goal of acquiring strategic assembly capabilities in the best submarkets in the country.”
The conglomeration is only 15 miles from the ports of Los Angeles and Long Beach and close to downtown.

“As a company, we’ve done very well with our portfolio in the South Bay submarket — it really is our bread and butter,” said Bob Andrews, CenterPoint’s senior vice president of asset management for the West region, in a statement. “Overall, South Bay has near zero vacancy and rental growth has been significant. In the long term, this compilation will prove very valuable to CenterPoint. In the short term, however, we are confident that the property will be let in the portfolio.”

540 W. 132nd street in Val Gardena.

Rob Flores and Sam Carmack and Matt Stringfellow of Klabin Co. of CBRE Group Inc. brokered the transaction.

Flores and Carmack will represent CenterPoint in leasing the property, which will be available in the first quarter of 2023.
CenterPoint Properties serves 328 buildings totaling 67.2 million square feet and 428 tenants.

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