West Harbor Capital, a real estate investment firm focused exclusively on infill industrial properties, closed the $16.5-million acquisition of a 69,498-square-foot multi-tenant distribution facility located at 14313-14351 E Bonelli St. in the City of Industry.
Lee & Associates’ Steffan Morris and Eric Parkhurst represented West Harbor Capital, while CBRE’s Kent Stalwick represented the seller, Earl M. Hill Limited Partnership. The property was bought with a 28,240-square-foot vacancy and 41,258 square feet leased to two logistics tenants.
“It was a tremendous team effort to creatively structure the all-cash transaction and quickly close to meet the seller’s year-end closing target,“ said West Harbor Capital managing partner and co-founder Adam Deierling. “Looking ahead, we plan to modernize the property and reposition the current vacancy.“
Added managing partner and co-founder Eric Ruehle, “We expect to aggressively expand our presence over the next 18 months and believe it’s an opportune time for West Harbor to capture market share while creating value for our partners.”
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