Palisade Group Acquires Garfield Business Center In Commerce For $97 Million

The property involved in the transaction is located at 3300-3430 Garfield Avenue in Commerce, CA. It is an industrial asset comprising a total of 544,705 square feet across five buildings on a 24-acre site. The property features dock-high capabilities, outdoor storage, trailer parking, and an active rail spur, with convenient access to the I-5 freeway. The sale price for the asset was $97,000,000, resulting in a price per square foot of $178.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $97,000,000
• Buyer: Spencer Rose, David Moore & Charlie Hobey, Ryan Dunlap - Palisade Group
• Seller: Terreno Realty Corporation
• Brokers: Andrew Briner, Bret Hardy, Jim Linn, Aaron Banks, Luke Easton, Kevin Shannon, John McMillan & Jeff Sanita - Newmark
• Square Footage: 544,705
• Location: 3300-3430 Garfield Avenue, Commerce
• Date of Transaction: 5/29/2025

Palisade Group acquired Garfield Business Center through a joint venture with vehicles managed by Benefit Street Partners, LLC. This transaction highlights the collaboration between key individuals in the property acquisition process, reflecting the strategic partnership in securing this industrial asset.