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Sign in Sign up for a FREE subscriptionHarbor Associates, Evergen Equity acquire L.A. industrial real estate portfolio for $55m
Harbor Associates in a joint venture with Evergen Equity has acquired a 126,015-square-foot industrial real estate portfolio in the Los Angeles submarket of Gardena from a local investor in an off-market transaction for $55 million.
The portfolio consists of four adjacent properties ranging in size from 17,000–45,000 square feet at 690-760 W. 190th Street. The 7.5-acre site is located within the 34 million-square-foot Gardena/Harbor industrial submarket, which boasts a vacancy rate of less than 1 percent. It is situated immediately next to the I-405/I-110 interchange, two of Southern California’s major truck routes providing easy access to the Ports of Los Angeles, downtown Los Angeles, Pasadena Long Beach and Orange County.
“The opportunity to acquire 7.5 acres of prime industrial land in this very tight and important industrial submarket is rare,” said Rich McEvoy, principal for Harbor. “We are contemplating several possible options for
