A real estate brokerage in California recently completed a property portfolio sale and leaseback. The transaction took place in Rancho Cucamonga and Carteret, less than an hour from Los Angeles. With these types of transactions, property owners may sell their commercial real estate assets for quick capital and then do commercial leases with these assets, essentially leasing them back from the buyers.
In the recent sale and leaseback, the company CBRE purchased an industrial portfolio featuring three properties. The company said the transaction was complex and highly coordinated, considering the short time frame with which it had to work. The three properties total more than 139,000 square feet.
According to CBRE, the solid interest in this offering proves that the demand for these types of industrial investments is robust in submarkets that serve Los Angeles and other similar gateway cities. The three-property portfolio is currently fully leased to a manufacturer of seafood products. The manufacturer specializes in providing products that are crab flavored to food service clients. The specific financial terms of the complex were not divulged.
Dealing with commercial leases can be both exciting and intimidating in the competitive real estate markets of Los Angeles and surrounding areas. In the same way, buying and selling real estate can be complicated, with one mistake having the potential to cost a buyer or seller money, time or the deal itself. An attorney in California can help with these types of transactions to make sure that one’s rights are protected with each step.
Source: njbiz.com, “CBRE completes purchase in Carteret, California“, Mario Marroquin, Sept. 7, 2017