Staley Point Capital and Bain Capital Complete Sale of Two Southern California Industrial Properties for $54 Million

CRE 2022 images
Proximity to the Ports of L.A. and Long Beach make Southern California the largest industrial property market in the country.
(EyeMark/EyeMark -

Staley Point Capital (“Staley Point”), a value-add investor focused on industrial properties in Southern California, and Bain Capital Real Estate (“Bain Capital”), the real estate investing business of Bain Capital, today announced the sale of two industrial real estate assets for $54 million, or $339 per square foot.

The Staley Point and Bain Capital joint venture originally acquired the two properties, 331 Cliffwood Park Street (“Cliffwood”) and 10907 Painter Avenue (“Painter”), via separate transactions in 2021. Cliffwood is a fully leased, single-tenant warehouse in Brea that offers convenient access to the rest of the county via the 57 freeway. Painter is a newly renovated, multi-tenant logistics facility in Santa Fe Springs that is located just 20 miles from the Port of Long Beach. Together, Cliffwood and Painter comprise 160,000 square feet.

“This transaction demonstrates the significant demand for high-quality warehouses in infill locations, as well as the successful execution of our value-add program, which often includes capital improvements to enhance appeal to both tenants and owners,” said Eric Staley, Managing Director of Staley Point. “We remain highly committed to this strategy with support from Bain Capital and will continue to seek out hyper-infill industrial assets and land sites in top-tier markets.”

Southern California is the largest U.S. industrial market in the country, a trend driven by proximity to the Ports of Los Angeles and Long Beach, a commercial base of more than 600,0000 businesses, and its dense population of over 21 million residents. Per recent research from CBRE Group, Orange County and Los Angeles also maintain the lowest industrial property vacancy rates in the United States at 0.9% and 1.5%, respectively.

“The sale of Cliffwood and Painter represents an excellent outcome for our investors and speaks to the continued success of our partnership with Staley Point,” said Andrew Terris, a Partner at Bain Capital Real Estate. “Southern California remains a high conviction market for our thematic industrial strategy, which is hyper-focused on locations and assets that will benefit from enduring trends and long-term demand drivers. We look forward to continued opportunities to expand our portfolio across the West Coast.”

Staley Point and Bain Capital have curated a portfolio of high-quality infill industrial properties proximate to dense population centers across Southern California, Seattle, and the Bay Area. The joint venture is actively seeking to grow its portfolio of 29 buildings totaling 2.4 million square feet. Most recently, Staley Point and Bain Capital sold 12065 Pike Street, a 150,000-square-foot warehouse in Santa Fe Springs, for $85 million, after acquiring the property for $35 million six months prior.

Latham & Watkins LLP served as legal counsel to Staley Point Capital for the transaction. Eastdil Secured served as the financial advisor and The Klabin Company provided local market advisory services.