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

J.P. Morgan Asset Management has acquired a pair of industrial warehouses in Santa Fe Springs, California, for $176.5 million, marking the largest industrial sale in Los Angeles County this year. The transaction, recorded on September 16, involved the purchase of the properties at 15614-15620 and 15700 Shoemaker Avenue from 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, according to CoStar data.

The two buildings, completed in 1997, encompass 521,091 square feet. In 2025, Cicero, Illinois-based Breakthru Beverage Group, a wine, beer, and spirits wholesaler, signed a 10-year triple-net lease for the entire campus after VF Outdoors vacated the site. Breakthru Beverage Group utilizes the facility as a distribution center for alcoholic beverages destined for local licensed retailers, making it their fifth location in California. This deal surpasses the previous record for L.A. County's largest industrial sale this year, which was a $123 million transaction for Link Logistics' Link South Bay Distribution Center in January. For developers and investors, this acquisition highlights continued strong demand and premium pricing for well-located, large-scale industrial assets in the Los Angeles market, especially those with long-term, stable tenancy.