X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

REDONDO BEACH, CA-Newport Beach investment firm Layton-Belling has acquired just under 100,000 sf of industrial buildings here for more than $9 million, reflecting what brokers in the deal say is a rising tide of interest in a scarce supply of leased industrial property investment opportunities in the South Bay market of Los Angeles County.

W. Bradford Vickrey of Daum Commercial Real Estate Services tells GlobeSt.com that Layton-Belling bought a two-building complex on 5.1 acres at 3700 and 3730 Redondo Beach Ave., with Vickrey representing both Layton-Belling and the seller, Freeman Properties.

The buildings, comprising 51,340 sf and 48,000 sf, are occupied by CCH/Computax, a provider of tax and accounting software; and Danzas, a freight forwarder. Both are of highly improved concrete tilt-up construction with dock-high loading and ample office space, 17,000 sf in one building and 11,000 sf in the other. Both buildings were constructed in 1962, and the one occupied by Danzas was renovated extensively in 1994.

Vickrey says such leased investments are rare in today’s South Bay sale market, where substantial amounts of money are chasing very few deals. Prices keep rising, he says, buoyed also by low interest rates and a shaky stock market that makes real estate look good by comparison.

Vickrey tells GlobeSt.com that the acquisitions were among the first for Layton-Belling & Associates through a new industrial fund the firm formed recently in partnership with institutional investors and others. The fund plans to buy $180 million worth of industrial properties during the next 18 months, targeting properties in the range of $5 million to $30 million throughout Southern California. The new fund, according to a Layton-Belling announcement, expects to focus primarily on L.A. County’s largest industrial markets, namely the City of Commerce, City of Industry, Mid-Cities and the South Bay.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.