"one of the most in-demand industrial corridors in the country."
"The rise of e-commerce has fundamentally increased demand for well-located, modern logistics assets, which we believe are critical infrastructure for today's economy and offer strong, long-term growth,"
Morgan Stanley Real Estate Investing acquired a 143,060-square-foot Amazon distribution center near Los Angeles International Airport for $211 million. The facility sits on 98th Street amid private long-term parking structures serving LAX and was the largest industrial real estate transaction of the year in greater Los Angeles. Amazon occupies the entire facility, which was built earlier this year in a highly demanded industrial corridor. Low industrial vacancy rates and limited developable land around LAX are drawing institutional investors to modern logistics developments. Overton Moore Properties sold the site after buying it for $115 million in 2020 and redeveloping it for Amazon.
Read at Los Angeles Times
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