June 16, 2016
Irvine, CA-based Goodman Birtcher acquired a logistics portfolio spanning 130 acres across two infill sites in Santa Fe Springs, CA and El Monte, CA from Albertsons Cos. Inc., for a reported $240 million. Once the current leases expire, the company plans redevelop both sites into new Class A logistics facilities.
The 75-acre Santa Fe Springs site comprises a six building campus, totaling approximately one million square feet. The El Monte addition is a 55-acre site that will be developed into a 1.2-million-square-foot Class A logistics facility.
Goodman Birtcher’s Brandon Birtcher says, “This acquisition further demonstrates our selective approach to expanding our presence in core U.S. industrial markets, focusing on targeted development and value add investment opportunities in land constrained markets with high barriers to entry.”
JLL’s Louis Tomaselli, Zach Niles and Mark Detmer advised Goodman Birtcher on the transaction.