Staley Point Capital and Bain Capital Real Estate have acquired two assets located at 5530 Beach Boulevard and 5609 River in Buena Park, Calif.
The two buildings, totaling 166,066 square feet on 9.2 acres, were acquired in a sale-leaseback transaction for $41 million, which is $247 per building foot or $102 per land foot. This transaction marks Staley Point's fourth Orange County investment in the past 12 months.
The two institutional-quality, 28-foot-clear-height properties have been leased back to the seller. The Buena Park site is less than 1.5 miles from Interstate 5 and is well-positioned between the wealthy suburbs of Orange County (30 minutes), the ports of Los Angeles and Long Beach (30 minutes), and the Inland Empire (45 minutes).
"We are pleased to continue growing our industrial portfolio in Orange County," said Eric Staley, managing director of Staley Point. "The transaction’s compelling credit income, visibility on Beach Blvd, close proximity to
