Staley Point Capital and Bain Capital Real Estate announced the sale of 18689 Arenth Avenue, a 91,000 square-foot industrial asset in the City of Industry, Calif., for $38.4 million, or $421 per square foot.
The Staley Point and Bain Capital programmatic joint venture originally acquired the asset in January 2022 for $22 million, or $241 per square foot. Arenth is a newly renovated, 24-foot clear asset with eight dock-high positions and a functional concrete truck court. The asset is in the San Gabriel Valley, which benefits from its central location at the intersection of Los Angeles, Orange and San Bernardino Counties. The asset also provides direct access to State Route 60, which connects the West Los Angeles consumer markets, two nearby intermodal yards and distribution centers within the Inland Empire.
“The Arenth sale demonstrates the significant continued demand for high-quality, warehouses in infill locations and is further validation of our approach to the i
