Exclusive: CenterPoint Properties acquires 9-acres from Signal Hill Petroleum

Jason R. Aula 

Photo credit: CenterPoint Properties

LOS ANGELES, California — CenterPoint Properties has acquired 9-acres of industrial property at 2550 Orange Ave. of Signal Hill, California from Signal Hill Petroleum Inc. CenterPoint plans to develop the Signal Hill property into a 100,147-square-foot warehouse, which includes facility amenities such as 17 dock doors and 73 trailer parking stalls.

“With both port volumes and ecommerce driving so much of the industrial demand in Southern California, the attributes we seek in our investments are the ones this portfolio has in abundance,” Ashley Vanacore, CenterPoint Properties’ investment officer, said in a statement. CenterPoint Properties is an Oak Brook, Illinois organization. 

Kidder Mathews’ Tom Holland, Justin Dornblaser and Alex Matar provided representation to CenterPoint. “We’re seeing almost zero percent vacancy coupled with unprecedented rent growth and land values,” Holland declared.