JPMorgan Chase Buys Industrial Campus for Record-Breaking Price
JPMorgan Chase has made a significant investment in Southern California's industrial real estate market by purchasing an industrial campus in Santa Fe Springs for $176.5 million, according to Green Street.
The deal was reportedly one of the priciest L.A. industrial deals over the last couple of years, with a price tag of about $340 per square foot.
The two-warehouse campus at 15614 to 15620 and 15700 Shoemaker Avenue is currently occupied by Breakthru Beverage, which has a lease that won't expire for another nine years.
In comparison, other recent industrial deals in the area have seen higher prices per square foot. A South Bay property sold for $32.5 million or around $800 per square foot last quarter, while a flex building in El Segundo went for $27 million or $480 per square foot.