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

J.P. Morgan Asset Management has finalized the acquisition of two 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 so far this year. The properties, located at 15614-15620 and 15700 Shoemaker Avenue, encompass 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.

The warehouses, originally built in 1997, are fully occupied by Breakthru Beverage Group under a 10-year triple-net lease signed in 2025. Breakthru Beverage Group, a wine, beer, and spirits wholesaler, utilizes the site as a distribution center for its California operations. This deal surpasses the previous record for an L.A. County industrial sale this year, which was a $123 million transaction in January. For developers and investors, this acquisition highlights continued strong demand and premium valuations for well-located, leased industrial assets in the Los Angeles market.