ANNAPOLIS, MD (July 5, 2017) — Realterm Logistics, in partnership with LaSalle Property Fund (“LPF”), a U.S. core commingled fund advised by LaSalle Investment Management (“LaSalle”), a leading global real estate investment manager, has completed the purchase of 600 East Live Oak in Irwindale, CA. Realterm and LPF acquired the 108,450+ square foot regional distribution facility for an undisclosed amount.
The 22 acre transload facility includes 123 loading doors with immediate access to I-605. It is centrally located to serve the dense population clusters of the LA basin, the Ports of LA/Long Beach, and the Inland Empire. The property is leased to Neovia Logistics, a global leader in third-party logistics. Neovia services a Fortune 100 Retailer, distributing to 50+/- of their distribution centers nationally, supporting ecommerce and store sales.
“We focus on transportation advantaged high flow-through (HFT) facilities, which are located in and around major population centers and offer critical, high volume, freight distribution transfer points," said Paul Underwood, Senior Vice President of Realterm Logistics. "Our properties facilitate the efficient flow of goods through the supply chain to their final destination. We are very pleased to add this unique, high quality property to our national HFT portfolio.”
The Los Angeles industrial market continues to perform as one of the strongest real estate markets in the United States. The vacancy rate in this market currently sits at 2.5%, well below the national average of 6.2%. The industrial warehouse segment vacancy has fallen 50 basis points since 1Q15 in the LA Basin.
Contact: Sophia Stuart
About Realterm Logistics
Realterm Logistics (http://www.realtermlogistics.com/) is a vertically integrated owner and manager of high flow-through (HFT) logistics facilities serving the transportation industry. Realterm Logistics is a subsidiary of Realterm, a private equity investment firm and development company focused on logistics and infrastructure assets with approximately $2.6 billion in assets under management across more than 300 operating and development investments in the U.S., Canada, Europe and India. Realterm’s four investment strategies include Realterm Logistics (surface transportation logistics real estate), Aeroterm (on-airport logistics real estate), IndoSpace Logistics Parks (India’s leading industrial developer), and Realterm Energy (renewables and energy efficiency).
About LaSalle Investment Management
LaSalle Investment Management is one of the world’s leading real estate investment managers with approximately $58 billion of private and public equity and private debt investments under management. The firm’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle Investment Management affiliates sponsor a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle Investment Management affiliates are wholly-owned, operationally independent subsidiaries of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.