Bridge Logistics Properties (BLP), a subsidiary of Bridge Investment Group Holdings LLC, acquired 18305 and 18501 San Jose Ave., a two-building, 450,000-square-foot industrial portfolio in the City of Industry. The acquisition for an undisclosed sum builds on BLP’s momentum in key infill markets and supports its long-term growth strategy across Southern California.
“The 450,000-square-foot two building project offers attractive near-term income coverage, institutional-quality functionality and strategic positioning in one of Southern California’s most supply-constrained markets,” said Grant Moore, VP of West region investments at BLP. “With limited new development in the San Gabriel Valley, we believe these assets are well-positioned for rent growth and long-term performance.”
The transaction emerged from a selective marketing process of a seven-building Southern California portfolio. BLP focused on the City of Industry assets due to their higher-level functionality, strategic location and strong in-place tenancies. The seller was represented by a JLL team of Patrick Nally, Ryan Spradling, Evan Moran and Makenna Peter.
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