10907 Painter Avenue
Santa Monica, CA, August 22, 2023 – Artisan Ventures (“Artisan”) and an affiliate of Walton Street Capital, L.L.C. (“Walton Street”) announced that they have acquired a portfolio known as the “SoCal 2-Pack” consisting of two light industrial assets located in Santa Fe Springs and Brea totaling 159,492 RSF.
The two assets, 10907 Painter Avenue and 331 Cliffwood Park Street, are strategically located less than 20 miles from the Long Beach/San Pedro port complex and have easy access to several freeways (less than 2 miles to the
I-5 and 0.5 miles to California Route 57). The assets are 88% leased with 3.2 years of weighted average lease term (WALT) remaining and can offer tenants 22' - 24' clear heights and ample loading.
The recently formed partnership is seeking to invest a series of funds of at least $75m of equity each to acquire similar infill value-add light industrial assets within 20 miles from the ports of Los Angeles.
"We are excited about the recent formation of our SoCal Infill Industrial Platform with our long-time partners at Walton Street. This transaction represents Artisan’s first investment in the industrial asset class and serves as the anchor investment in our strategic program built around port-proximate, infill industrial investment in Southern California. The investment illustrates our strong conviction in the continued strength and resilience of the nation’s top industrial submarket buoyed by high barriers to entry and limited supply. We look forward to expanding upon our partnership with Walton Street in seeking to acquire additional infill logistics properties," said Collin Komae, Co-Founder and Managing Partner at Artisan Ventures.
331 Cliffwood Park Avenue
About Artisan Ventures: Artisan Ventures is a privately-held Southern California based real estate investment and operating company known for its unique ability to balance institutional-caliber investment expertise with a nimble, entrepreneurial approach to driving maximum value for its investors. The firm invests in core-plus, value-add and opportunistic industrial, office, residential, soundstage/studio, and mixed-use assets in select submarkets within Southern California. The principals have an extensive track record of creating value through the acquisition, development, redevelopment, and asset management of over 12.4 million square feet of properties representing over $5.0 billion of transaction value.
About Walton Street Capital, L.L.C.: Walton Street is a private equity real estate investment firm that, since its inception in 1994 through its affiliates, has raised over $15 billion of capital commitments. The principals have collectively acquired, financed, managed, and sold over $55 billion of real estate and have an average of 22 years of real estate industry experience. Senior management has collectively invested and managed both real estate equity and debt through several real estate cycles over five separate decades and more than 40 years, forging long-term and deep relationships with lenders, public and private real estate Walton Street’s owners, operators, brokers, managers, and industry service providers.