SANTA FE SPRINGS, CA-Development and investment firm Overton Moore Properties has acquired two industrial buildings totaling nearly 215,000 square feet and plans to transform the property into a modern, multi-tenant industrial project. The project, called OMP Painter Commerce Center, comprises two buildings totaling 214,614 square feet on individual parcels that total 8.9 acres.

OMP is already under way with the renovation, according to Jason Hines, a vice president at the company. "The acquisition of Painter Commerce Center is an example of creatively transforming an older, functionally obsolete property into a functional asset for today's users," Hines commented.

Hines added that OMP's approach to reusing existing buildings promotes sustainability, reduces landfill waste and preserves the embodied energy used to originally construct the building. OMP is actively acquiring assets with value-add potential as well as land for future development.

Bill Napier of Told Partners represented both buyer and seller, Thacker Family Trust Investments, on the transactions. Adam Deierling & Chris Sheehan of Colliers International will market the project on behalf of OMP.

Santa Fe Springs is part of the Mid-Counties submarket, also known as Mid-Cities, which has long been popular with industrial and distribution users for its central location with respect to Los Angeles and Orange counties as well as other parts of Southern California. As reported on GlobeSt.com recently, Sportswear distributor Americana Activewear has signed a lease for 240,000 square feet at 1130 Bloomfield Ave. in an expansion to accommodate the company's growing West Coast customer base, according to Cushman & Wakefield brokers who negotiated the lease. Americana chose Santa Fe Springs because it offers a central location with respect to its customer base, according to those involved in the deal.