Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), announced the acquisition of a last-mile delivery distribution facility adjacent to Los Angeles International Airport (LAX) that is long-term net leased to a major multinational ecommerce retailer. The $211 million acquisition includes a newly developed class A distribution building and an industrial outdoor storage (IOS) parking site on 19 acres of land.
“We are pleased to acquire this facility in a highly strategic distribution location, underscoring our continued strategy of securing key net lease investments in core logistics markets,” said David Gross, managing director at Morgan Stanley Real Estate Investing. “This facility in particular is a critical asset for distribution and logistics needs in a significant region of Southern California where both a lack of space and regulatory hurdles present development constraints.”
The property is
