Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Industrial investor CT has sold four small-box industrial properties in San Diego and Los Angeles. All four properties, which traded hands for a combined $75 million, were sold to owner-occupiers that have a manufacturing component, as opposed to ecommerce or distribution users. The trades reveal the healthy existing demand for manufacturing facilities. The four properties included a vale-add deal in San Diego, the largest of the transactions, and three newly constructed properties in Los Angeles.

The four Los Angeles properties were part of a strategy targeting owner-occupiers. “The other buildings were part of a strategy targeting owner-user buyers,” Carter Ewing, managing partner at CT, tells GlobeSt.com. “We identified buildings in in-fill submarkets primarily in the San Gabriel Valley primarily with the intent that of identifying the buyer for the brand new vacant building. Those owners tend to be owner-occupiers. That particular strategy took about three years from concept to completion, and by any measure the market worked in our favor. We enjoyed great appreciation through the growth in the broader market.”

In San Diego, the owner-occupier was not the initial strategy. The investor purchased the property as part of a sale-leaseback and converted an unused portion of the building to create a two-tenant property. Ewing says the original strategy was to lease the remainder of the property, but instead an owner-occupier offered to buy the space and take on the existing lease. “All in all, it hit on all cylinders exactly as we envisioned it,” he adds.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.