Southern California industrial investor and developer CapRock Partners has brought a recent investment in Central Los Angeles full cycle in a year. The investor purchased the property, located at 5331 and 5333 Slauson Avenue, last year with a value-add business plan and an intention of holding the property; however, the existing tenant offered to purchase the property for an undisclosed amount. The short-hold and offer, however, serve as evidence of the strong industrial demand and need for space, particularly in the Central L.A. submarket.
CapRock Partners is a flexible real estate investor and if an opportunity to sell an asset before the designated hold period emerges, we are always willing to consider it, Taylor Arnett, VP of acquisitions at CapRock Partners, tells GlobeSt.com. The tenant at 5331 and 5333 Slauson Avenue in Commerce, who has already occupied the property for several years, presented an offer to CapRock that made sense for both parties, where the tenant could own the property and secure its real estate long term, and CapRock could exit the investment with a profit.
This article was originally published at GlobeSt (globest.com) and features Taylor Arnett (VP of acquisitions of CapRock Partners). Read the entire article >>