A vertically integrated real estate investment and development firm has announced the $25.5 million purchase of a 3.6-acre site at 19500 Rancho Way in Rancho Dominguez, California. This strategic acquisition expands Turnbridge Equities’ Industrial Outdoor Storage (IOS) portfolio, further solidifying its position in one of the most desirable industrial submarkets in the South Bay.
The property’s proximity to the Los Angeles and Long Beach terminals was a major factor in the decision to acquire it. The combined ports constitute the largest port complex in North America, managing forty percent of the nation’s containerized imports and functioning as a significant gateway for international trade. Three main freeways — the 710, 91, and 405 — are within two miles of the site.
The Alameda Corridor provides easy access to Los Angeles/Long Beach ports and the 405, 710, and 91 freeways.
The site also benefits from superb connectivity to the Southern California highway network. The site is also adjacent to the Alameda Rail Corridor and is 1.2 kilometers from the Union Pacific Dolores Yard. Centrally located in the Los Angeles industrial market, this property has a competitive advantage for prospective tenants who can reduce transportation costs and greenhouse gas emissions by locating here.
“The acquisition of this prime site in Rancho Dominguez aligns perfectly with our strategic vision of expanding our Industrial Outdoor Storage strategy in port-adjacent, infill, and high barrier-to-entry markets,” said Michael Gazzano, Managing Director of West Coast Investments at Turnbridge Equities. In addition to its close proximity to ports and railyards, this facility serves a population of 14.3 million within an hour’s commute.
The newly acquired property is located in the South Bay submarket of Los Angeles, one of the most desirable submarkets in the country with a vacancy rate of 0.8%. With a vacancy rate of 0.2%, Rancho Dominguez is a highly desirable submarket within the South Bay submarket. The national vacancy rate in the U.S. is 3.7% for context.
Turnbridge Equities’ Vice President of Acquisitions, Jack Hechinger, remarked, “We are thrilled to add this strategic property to our portfolio, thereby expanding our presence in the South Bay market.” The scarcity of available industrial land on the market, coupled with the rising demand for industrial outdoor storage, makes this acquisition a compelling opportunity for us, and we look forward to realizing the property’s full potential.