MetLife Sells 3-Property SoCal Industrial Portfolio For $166M
MetLife Investment Management sold three properties, known together as the Golden Coast Portfolio, to three buyers in separate deals for a total of $165.5M, according to a release from Cushman & Wakefield.
TA Realty acquired The Concourse in the City of Industry, a 421K SF industrial business park with 69 dock-high doors and a 160-foot truck court.
Terreno Realty acquired a property called the Redondo Beach Two Pack, a 99K SF property with 16 dock-high doors and a clear height of 16 feet.
General Investment and Development bought the Carlsbad Oaks Business Park, a 78K SF property near San Diego offering clear heights of 22 to 26 feet and a layout with warehouse and office space.
"The successful disposition of this portfolio highlights the strength and resilience of the industrial real estate markets in Southern California. Investors continue to show confidence in the region’s ability to deliver consistent returns and significant opportunities for growth," Cushman & Wakefield's Matt Leupold said in a statement.
Leupold and a team from Cushman represented MetLife.
Greater Los Angeles' industrial vacancy rose slightly to 4.8% in the second quarter, according to a report from Cushman & Wakefield.
Three years ago, LA’s overall industrial vacancy rate was under 1%. In Q2, five of six submarkets surpassed 3%, with two exceeding 6%, according to C&W's report.
However, 2025's year-to-date leasing activity was roughly 16.2M SF, "the highest velocity through the first half of a year since 2021," the report's authors wrote.
