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

J.P. Morgan Asset Management has finalized the acquisition of two industrial warehouses in Santa Fe Springs, California, for $176.5 million. This transaction, which closed at approximately $329 per square foot, represents the largest industrial sale in Los Angeles County year-to-date. The properties, located at 15614-15620 and 15700 Shoemaker Avenue, were sold by Prudential Financial's investment manager, PGIM, and were originally completed in 1997.

The 521,091-square-foot campus is fully leased to Breakthru Beverage Group, a wine, beer, and spirits wholesaler, under a 10-year triple-net lease signed in 2025. Breakthru Beverage utilizes the site as a key distribution center for alcoholic beverages across California, marking its fifth facility in the state. The sale price exceeds the Cerritos-Norwalk submarket's average industrial sale price of $284 per square foot, according to CoStar data. This significant deal highlights the robust investor appetite for well-located, leased industrial assets in competitive Southern California markets. For developers and investors, it signals strong valuation potential for modern logistics facilities.