Birtcher Anderson & Davis (BA&D) and Belay Investment Group (“Belay”) announced the successful disposition of their Southern California Multi-Tenant Industrial Portfolio, a significant achievement following their acquisition in late 2020. The portfolio encompasses seven properties (six multi-tenant industrial projects, and a single-story office property) totaling roughly 351,000 square feet across Irwindale, San Dimas, Pomona, and San Bernardino.
Learn more about BA&D’s successful investment strategies and portfolio management expertise by visiting our website at birtcherandersondavis.com.
“The sale of this seven-property portfolio is a testament to the strength of the Southern California small business industrial market and the effectiveness of our investment strategy,” said Evan Hanyak, Vice President of Birtcher Anderson & Davis. “We’re incredibly proud of the team’s work in acquiring and managing these properties, ultimately realizing significant value for our investors. This successful disposition allows us to reinvest in new and exciting opportunities.”
“We are thrilled with this strong portfolio exit and believe it demonstrates the Birtcher team’s solid execution capabilities, while further reinforcing Belay’s ongoing belief in well-located infill multi-tenant industrial product,” said Eliza Bailey, Co-Founder, CEO & CIO of Belay.
The portfolio’s success stemmed from several key factors. Its 93% occupancy rate at acquisition attributed to a diverse tenant mix and a variety of unit sizes, ensuring consistent revenue and high tenant retention. The strategic locations of portfolio assets within established industrial centers further enhanced the properties’ appeal, and allowed the partnership to drive occupancy to 100% at several properties prior to disposition.
The seven-property portfolio comprised 25 buildings and 186 tenant suites across the following locations:
- Foothill Business Park: 16000-16016 Foothill Blvd. & 6621-6631 Calle Eva Miranda, Irwindale
- Arrow Pines Business Park: 210 & 260 W. Arrow Hwy & 440 S. Cataract Ave, San Dimas
- Canyon Center Office Park: 1200-1270 N. San Dimas Canyon Rd, San Dimas
- Pomona Industrial Center: 2665, 2671 & 2675 Pomona Blvd, Pomona
- Pomona West Commerce Center: 2680 Pomona Blvd, Pomona
- Pomona East Commerce Center: 310-380 S. East End Ave & 1605 & 1649 E. Mission Blvd, Pomona
- San Bernardino Industrial Center: 360-458 E. Rialto Ave, San Bernardino
This successful portfolio sale, completed over eight separate transactions, underscores BA&D’s ability to identify, acquire, and profitably manage properties within the small bay industrial product type. The company’s expertise in navigating complex real estate transactions while recognizing the value in maintaining smaller tenant sizes throughout the portfolio is exemplified by the largest tenant being only 39,244 square feet in size. An aggressive leasing approach and responsive tenant relations for SoCal Portfolio tenants, which averaged less than 2,000 square feet per lease, allowed BA&D to maximize value and deliver strong returns in a supply constrained market of small industrial spaces. The sale of the portfolio marks a significant step forward for BA&D and positions the company for continued growth and success in the dynamic Southern California industrial market.
Media Contact: Daniel Karcher – 949-296-3560 – dkarcher@birtcherandersondavis.com
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