Staley Point Capital and Bain Capital Real Estate Announce $53.3 Million Sale in Buena Park
Staley Point Capital and Bain Capital Real Estate have announced the successful sale of two assets in Buena Park, California, for a total of $53.3 million. This sale marks the joint venture’s fifth disposition in the past 24 months, bringing the combined amount of dispositions to an impressive $231 million.
The two assets, totaling 183,000 square feet on 9.2 acres, were acquired in March of 2022 for $41 million. The properties, located at 5530 Beach Blvd. and 5609 River Way, were sold to a consumer products business that will benefit from their prime location with frontage on Beach Blvd. and proximity to local consumers, amenities, and major freeways.
Buena Park is a highly sought-after submarket at the intersection of Los Angeles and Orange County, two of the most supply-constrained markets in the country. The sale demonstrates the success of well-located, high-quality assets and reflects the joint venture’s ability to deliver for investors across cycles.
Orange County’s industrial market remains tight with minimal new supply and only 2.1% vacancy. The market is supported by strong local consumption and the Ports of Los Angeles and Long Beach, which have experienced significant import growth.
“This sale reflects the continued progress of our collaborative partnership with Staley Point and underscores the successful execution of our thematic industrial strategy,” said Andrew Terris, a Partner at Bain Capital. “Southern California remains a high conviction market, and we look forward to capitalizing on continued opportunities in the region.”
Staley Point Capital, a Los Angeles-based real estate investment firm, focuses on acquiring value-add and opportunistic real estate investments primarily in the industrial sector. Bain Capital Real Estate, formed in 2018, pursues investments in sectors underpinned by enduring secular trends.
For more information about Staley Point Capital and Bain Capital Real Estate, visit their respective websites.