November 5, 2024
Birtcher Anderson & Davis Associates and Belay Investment Group – sell Multi Tenant Industrial Park in Pomona, CA
POMONA, Calif. – October X, 2024 – CBRE facilitated the sale of Pomona East Commerce Center, a six-building industrial center in Pomona, Calif. Arete Venture Partners purchased the property.
CBRE Investment Properties’ Mark Shaffer, Anthony DeLorenzo and Gerard Poutier, along with CBRE’s National Partners Barbara Perrier and Eric Cox, represented the seller, SoCal Industrial LLC—a joint venture of Birtcher Anderson Davis & Associates and Belay Investment Group—in the transaction. Louay Alsadek & Maddie Mawby of Cushman & Wakefield represented the seller Arete Venture Partners.
“Small bay industrial continues to attract strong demand from private capital and 1031 exchange investors due to the ability to roll short term leases to market and continued strong underlying industrial market fundamentals promoting stable cash flow,” said Mark Shaffer, Senior Vice President with CBRE.
Birtcher Anderson & Davis and Belay entered into a joint venture in 2020 and successfully executed on its value add investment thesis to improve the Pomona East Commerce Center, and bring the rents up to current market. Birtcher Anderson & Davis Associates, specializes in the investment and development of Multi-Tenant Industrial properties. Bob Thiergartner said “We’re pleased to sell the fifth of six properties in this portfolio and successfully execute the business plan presented to our financial Partner.”
The six buildings, which total 78,200 sq. ft., are situated on 4.34 acres. Each features at least 14 feet of clear height and at least one grade-level door. At the time of sale, the building was 92% occupied with 42 tenants.
About Belay Investment Group
Belay Investment Group, LLC is an institutional investment management firm that specializes in granular small to middle market real estate opportunities through the establishment of programmatic partnerships with high-caliber local and specialized operating partners. The firm pursues equity and debt opportunities across the risk spectrum, property types, and geographies, offering its clients scalability and customization. Visit www.belayinvestmentgroup.com for more information
About Birtcher Anderson & Davis
Birtcher Anderson & Davis (“BA&D”)is a California based, privately-owned real estate investment, development, and property management firm located in San Juan Capistrano, CA with additional satellite locations in CA, NV, and AZ. BA&D is a vertically integrated real estate operating company focused on acquiring value-add, middle-market, multi-tenant warehouse and light industrial properties in high growth U.S. markets. For more information visit: www.birtcherandersondavis.com