Paul Jones with Bridge Logistics Properties Acquired the Property In City Of Industry For $109M

Two adjacent industrial buildings located at 18501 San Jose Avenue and 18385 San Jose Avenue in the City of Industry were involved in the transaction. The sale price was $109,000,000, and the total square footage of the properties is 449,280 with a price per square foot of $243.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $109,000,000
• Buyer: Paul Jones - Bridge Logistics Properties
• Seller: Luke J. Petherbridge - Link Logistics
• Brokers: Patrick Nally, Ryan Spradling, Evan Moran & Makenna Peter - JLL
• Market: City of Industry
• Vacancy Rate in Market: 3%

This transaction marks a discounted acquisition of the properties from Link Logistics, a unit of Blackstone. The brokerage firm JLL was instrumental in facilitating the sale, with a team including Patrick Nally, Ryan Spradling, Evan Moran, and Makenna Peter handling the negotiation process in a challenging market for industrial real estate.