JLL Capital Markets worked on behalf of an affiliate of Zurich Alternative Asset Management in the sale of the fully leased warehouse
News release
18 January 2024
Class A distribution facility trades for $11.25M near Los Angeles
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LOS ANGELES, Jan. 18, 2024 – JLL Capital Markets announced today that it arranged the $11.25 million sale of a Class A warehouse and distribution facility totaling 42,725 square feet in Santa Fe Springs, California.
JLL represented the seller, an affiliate of Zurich Alternative Asset Management, and procured the buyer, Sterling Investors LP.
The property is fully leased to a single tenant and features a 30-foot clear height, six dock high doors, one grade-level door and an 82-foot truck court.
The asset is located at 10329 Painter Ave., in one of the most desired core industrial markets by institutional investors across the country. It is strategically positioned 3.5 miles from the I-5 and I-605 Interchange boasting impeccable connectivity throughout Southern California and the greater West Coast.
The JLL Capital Markets team was led by Senior Managing Director Mark Detmer and Directors Chad Solomon and Makenna Peter. Managing Directors Cameron Driscoll and Luke McDaniel served as the local market contacts.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos, and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Zurich Alternative Asset Management
Zurich Alternative Asset Management (“ZAAM”) runs a national core and core-plus investment program out of New York which targets office, retail, industrial and multifamily properties and has directly acquired approximately $2 billion of assets since 2013. ZAAM also manages non-core, value-added assets aggregating just under $1 billion. ZAAM recently raised approximately $500 million of international equity for investment in a core and core plus program in a new open-ended fund, and continues to add to its portfolio under management, which spans across 26 states aggregating more than 15 million square feet of commercial real estate space and more than 1,400 multifamily units.
About Sterling Investors LP
Sterling Investment Partners is a leading private equity firm focused on the middle market. Sterling invests in companies with significant competitive strengths and growth potential. Founded in 1991, Sterling has completed investments, strategic or add-on acquisitions, and liquidity events with an aggregate transaction value of approximately $4.0 billion, representing over 45 companies. Sterling maintains a broad industry focus, including professional and business services, manufacturing, transportation and logistics, and technology-related businesses.