Bridge Logistics Acquires Truck Terminal in Off-Market Deal
Bridge Logistics Properties (BLP), a subsidiary of Bridge Investment Group Holdings LLC, has acquired 12903 Lakeland Rd., a 21.3-acre truck terminal in Santa Fe Springs, in an off-market transaction. The property is fully leased to XPO, Inc, a leading freight transportation company, and represents a rare large-scale logistics asset in one of Los Angeles County’s most supply-constrained industrial markets.
Although the price was not disclosed, BLP said it acquired the property at roughly half of today’s comparable land value. The entry basis creates significant long-term flexibility.
“Truck terminals of this scale are extraordinarily difficult to replicate in Los Angeles today,” said Paul Jones, managing director, West Region at BLP. “We’re able to own more than 20 acres in a premier logistics location at roughly half of current land values, while benefiting from durable in-place income and preserving multiple paths for the property at lease expiration.”
BLP had tracked the property with Colliers for approximately four years before completing the acquisition. Jace Gan and Clyde Stauff of Colliers were involved in the transaction.
Photo courtesy of LBA Logistics.
