J.P. Morgan Asset Management Acquires Santa Fe Springs Warehouses for $176.5 Million

J.P. Morgan Asset Management has acquired a pair of industrial warehouses in Santa Fe Springs, Los Angeles County, for $176.5 million. This transaction, recorded on September 16, represents the largest industrial sale in the county this year. The properties, located at 15614-15620 and 15700 Shoemaker Avenue, span 521,091 square feet and were sold by Prudential Financial's investment manager arm, PGIM. The sale price of approximately $329 per square foot exceeds the Cerritos-Norwalk submarket's average industrial sale price of $284 per square foot, according to CoStar.

The buildings, constructed in 1997, are fully leased to Breakthru Beverage Group under a 10-year triple-net lease signed in 2025. Breakthru Beverage Group utilizes the site as a distribution center for alcoholic beverages, marking it as their fifth facility in California. This deal surpasses the previous 2026 record for industrial sales in L.A. County, which was a $123 million transaction involving Link Logistics and Golden Star Trading. The acquisition underscores the ongoing demand for well-located, leased industrial assets in Southern California.