Address: 4901-4907 Morena Boulevard
Year Built: 2015
Building SF: 232,000 SF
Acquisition Date: March 2023
Projected Hold Period:
3.0 Years
Multi-tenant light industrial project comprised of fifteen buildings and 146 individual units
- With flex industrial properties coming offline and repurposed into different uses in the market there is a clear path to increase rents;
- Mark-to-market leasing as tenants role to capture significant upside since average in-place rents 30% below market rate at acquisition.
- Apply condominium map on the property for exit optionality and provide the ability to subdivide allowing for the sale of individual buildings as income producing assets
