BLP Announces JV with The Townsend Group
We recently shared some big news, as BLP reached a definitive agreement with The Townsend Group forming a second joint venture to deploy $147 million of equity, with the option for upsizing to $200 million, to acquire, develop, and operate global gateway logistics assets in the United States. This partnership follows the successful first joint venture announced in December 2021, in which the team committed $335 million of equity in similar assets.
This deal will open up more exciting opportunities for BLP to selectively acquire high-value assets in these extremely desirable, hard-to-access markets which is the core of our investment approach. This month, we are excited to announce 2 more strategic acquisitions (see below).
As always, thank you for being part of our network!
BUILDING ACQUIRED - 4422 Supply Court, Austin, TX
BLP is excited to announce the closing of 4422 Supply Court in Austin, Texas. The 35,065 sf, Class A rear load warehouse is located in Austin’s premier Southeast submarket immediately west of Austin-Bergstom Int’l Airport and boasts excellent connectivity to Austin’s CBD. The 2017-vintage asset features a 24’ clear height, 120’ fully secured truck court, +/- 4k sf of office with +/- 2k sf of conditioned storage space, 6 dock-high loading positions, and 58 car parking spaces (1.5:1,000sf). The standalone facility offers move-in-ready space targeting the submarkets deepest pool of users. This is the second acquisition Bridge Logistics Properties has closed in Austin this year.
BUILDING ACQUIRED - 336 East D Street, Wilmington, CA
BLP is pleased to announce the closing of 336 East D Street in Wilmington, CA. The 38,038 SF paved lot is located within the highly sought-after 'Heavyweight Corridor', adjacent to the Port of LA/LB and features 2 buildings totaling 6,750 SF with 3 grade-level loading doors and a private secured yard.
Thank you to Tyler Rollema of the Klabin Company for his assistance in the closing of this transaction.
BLP West at Newport Beach
BLP West volunteered last month to pick up garbage at Newport Beach using trash bags made from 100% Post-Consumer Recycled Plastics. Working their way up from the shoreline to the beach, BLP West collected 5 full bags of trash.
Bridge Logistics Properties, 1501 Quail Street, Suite 110, Newport Beach, CA 92660, United States