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Staley Point Capital Acquires Second Commerce Industrial Property for USD 13m.

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MANews-(C)2009-2021

US-based infill industrial properties investor Staley Point Capital has acquired 2425 Saybrook, a 42,000 square-foot warehouse with excess land in Commerce, California, for USD 12.95m, the firm said.

The price amounts to USD 308 per building foot or USD 119 per land foot.

Staley Point said the asset has seven dock high positions and an expansive yard ideal for logistics tenants.

The asset is currently 100% leased to DCG Distribution, a warehousing and trucking company, and marks Staley Point's second investment in Commerce, CA.

In September, Staley Point acquired 2187 Garfield, a 132,000 square-foot cross-dock warehouse for USD 38.5m.

The asset is in the Central submarket which is the largest industrial submarket in the Los Angeles Basin with 300m square feet.

The industrial property is close to the intersection of Garfield Avenue and East Washington Boulevard, two major roads that provide direct access to the I-5, I-605, and I-710 Freeways.

The site is also less than one hour from major Inland Empire distribution centers, and just 20 miles from the Ports of LA and Long...

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