A collaboration between Cress Capital and Brasa Capital Management — two California-based real estate investment firms — has acquired a 122,904-square-foot industrial property in Los Angeles County.

The property, which is located in Baldwin Park in the San Gabriel Valley area of the metro, was 100% occupied at the time of the acquisition. Originally constructed in 1989, the property features 14 tenants, including Home Depot and Goodman Distribution, demonstrating its desirable location for Los Angeles industrial real estate amid ongoing low vacancy rates metro-wide. A Colliers team of Michael Kendall, Gian Bruno and Kenny Patricia represented the seller, while Jeff Sause of JLL represented the buyer in its financing.

“The property stands out as unique, small-bay product in an under-supplied market,” said Cress Managing Partner, Ryan Parkin. “This acquisition underscores Cress’ commitment to identifying attractive opportunities despite challenging market conditions.”

Matt Milich, director of Brasa Capital Management, said, “We are thrilled to partner with Cress on this strategic acquisition, aligning with our investment philosophy of targeting assets with long-term growth potential.”

Based in Newport Beach, Calif., Cress Capital is a CRE operator, manager and investor focusing on office and industrial properties across the Western U.S. Brasa Capital Management is a real estate investment firm based in Los Angeles targeting diversified CRE asset types.

For several decades, the Los Angeles industrial market has experienced slower development compared to other top industrial markets in the U.S. due to a low amount of developable infill land. The wave of post-pandemic industrial development did little to assuage LA’s thirst for industrial space as the industrial stock currently under development here represents only 0.8% of current stock, according to commercial real estate research and listing platform CommercialEdge. Accordingly, spillover demand has turned neighboring markets — such as the Inland Empire and Orange County — into robust industrial markets in their own right, thereby making quality industrial properties in well-positioned areas of the LA metro doubly enticing for investors and tenants.

Check out industrial real estate for lease across Los Angeles and other top markets in the U.S.: