CBRE, Inc. (“CBRE”), as exclusive advisor, is pleased to present the unique opportunity to acquire the Wilmington Industrial Park (“the Property”, “Buildings”, or “Site”) consisting of four single-story industrial buildings totaling ±33,370 square feet in Wilmington, in one of the most desirable industrial markets in the country. Together, the portfolio of buildings is 79% leased to 14 diverse tenants, with a WALT of ±1.45 years. This provides a unique opportunity to acquire irreplaceable assets with strong in-place cash flows and the ability to boost yields.
The properties, which span ±1.41 acres, are strategically located in the port-adjacent South Bay Market. This area benefits from strong labor and consumer demographics and offers excellent access to multiple transportation routes that service the Southern California population. There is future upside in the potential ability to divide the parcels and sell them separately.
INVESTMENT HIGHLIGHTS
— Long-term residual value given A+ infill locations in key markets.
— Attractive unit sizes ranging from ±1,365 to ±3,967 SF
— 78.6% to 14 diverse tenants on NNN leases
— Pricing is at a significant discount to replacement cost
— Highly functional design/modern construction with ideal suite sizes
— No new construction of small-bay industrial product in these markets
— Significant value add opportunity through lease-up of remaining vacancies
— Future upside in selling properties separately — 4 buildings on 2 parcels