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

J.P. Morgan Asset Management has completed the largest industrial real estate transaction in Los Angeles County this year, acquiring a two-building warehouse complex in Santa Fe Springs for $176.5 million. The New York-based firm purchased the 521,091-square-foot property, located at 15614-15620 and 15700 Shoemaker Avenue, from Prudential Financial’s investment manager arm, PGIM. The transaction, recorded on September 16, valued the property at approximately $329 per square foot, exceeding the Cerritos-Norwalk submarket's average industrial sale price of $284 per square foot, according to CoStar data.

The warehouses, built in 1997, were previously owned by PGIM since at least 2011. In 2025, Cicero, Illinois-based Breakthru Beverage Group signed a 10-year triple-net lease for the entire campus after VF Outdoors vacated the site. Breakthru Beverage Group utilizes the facility as its fifth distribution center in California, handling alcoholic beverages for local licensed retailers. This deal surpasses the previous record for Los Angeles County's largest industrial sale this year, which was a $123 million transaction involving Link Logistics' Link South Bay Distribution Center. The acquisition underscores continued strong investor interest in prime, leased industrial assets within the competitive Southern California market.