Faropoint Expands West Coast Presence with First Los Angeles Industrial Acquisition

Tech-Enabled Investment Manager Acquires Multi-Tenant Industrial Property in Strategic Torrance Location

Faropoint, a leading tech-enabled real estate investment manager specializing in last-mile industrial properties, today announced its first acquisition in Los Angeles with the purchase of a multi-tenant industrial building located at 605-655 Hawaii Avenue in Torrance, California. The property was acquired for $9.975 million.

The 36,491-square-foot industrial facility is fully leased to four tenants. Built in 1963, the property features tilt-up construction, 18'10" clear height, and six double dock-high loading doors. The asset is strategically located in Torrance, CA offering excellent proximity to the Port of Los Angeles, LAX, and the 405 Freeway, connecting Los Angeles and Orange County.

"This acquisition marks a significant milestone in Faropoint's West Coast expansion strategy," said Harold Levy, Vice President of Acquisitions at Faropoint, who leads the firm's Los Angeles office. "The Torrance submarket offers exceptional fundamentals with sub 20K SF vacancy rates below 2.4%, which is less than half of the greater Los Angeles metro average. By acquiring this multi-tenant property with value enhancement potential, we're establishing our presence in one of the nation's most supply-constrained industrial markets where we see significant opportunities to apply our value-add expertise."

"The South Bay is one of the most desirable industrial locations in Los Angeles due to its proximity to major logistics hubs, high quality housing and labor" added Levy. "This acquisition further aligns with our value-add investment strategy, which focuses on well-located assets with operational improvement potential in supply-constrained submarkets. We are actively bidding on industrial assets in the market as we grow our portfolio in Southern California."

Faropoint plans to implement a value-add strategy for the property, including targeted capital improvements and lease optimization. The company will focus on enhancing the property's operational efficiency while maintaining its appeal to the diverse tenant base in this competitive submarket.

Jordan Nathan, Head of Corporate Investments added: "The Los Angeles market represents a strategic next step in growing our national platform. This expansion aligns with our disciplined approach of identifying opportunities in high-barrier-to-entry markets where we can leverage our data-driven investment model. Harold Levy and Zev Fagan bring local expertise and relationships that are integral to our growth plan in Southern California, where we see tremendous long-term potential for value creation. This initial acquisition provides us with an excellent foundation to build upon as we continue to scale our presence on the West Coast."

This acquisition follows Faropoint's recent opening of its Los Angeles office and the appointment of Harold Levy as Vice President of Acquisitions and Zev Fagan as Senior Acquisitions Associate to lead the firm's West Coast growth strategy. The company continues to expand its national reach, with operations now spanning 8 regional offices and 16 key US markets.

For inquiries or to learn more about Faropoint's investment strategies, please contact Ori Regev, SVP, Head of Product Marketing, at ori@faropoint.com.

About Faropoint

Faropoint is a tech-enabled, vertically integrated real estate investment manager specializing in urban logistics within the US industrial sector. With approximately 120 employees, Faropoint leverages data and deep market relationships to address inefficiencies in the industrial real estate market. The firm operates in 16 key US markets, securing off-market deals through its extensive broker network and strong local presence. Since its inception in 2012, Faropoint has acquired over 500 warehouses, representing more than $3 billion in industrial real estate assets. For more information, visit Faropoint.com.

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"The Los Angeles market represents a strategic next step in growing our national platform. This initial acquisition provides us with an excellent foundation to build upon." - Jordan Nathan, Head of Corporate Investments at Faropoint