Bandon Capital Advisors, Los Angeles, secured $20 million to refinance a 7-acre site with industrial outdoor storage and an industrial building in El Monte, Calif.
Bandon arranged the loan with a life company lender on behalf of a private investor.
The property is leased to a Fortune 500 company, and located in the San Gabriel Valley across the street from a key distribution facility.
“Demand for [industrial outdoor storage] properties is increasing as investors seek assets that are both protected from downside risk, and offer the potential for rising value in the current uncertain economic climate,” said Bryan Kenny, Co-Founder and President at Bandon Capital Advisors. “[Industrial outdoor storage] has been commanding considerable attention since the explosion of e-commerce during the pandemic. With logistics companies seeking last-mile delivery solutions, demand is increasing for industrial properties with excess land.”
