MetLife Unloads SoCal Industrial Portfolio for $166M
Although still on the mend from macroeconomic and tariff concerns, Greater Los Angeles’ industrial market is humming along
By Nick Trombola August 29, 2025 1:40 pm
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Los Angeles County’s industrial market is faring relatively well compared to the rest of the nation’s warehousing real estate amid economic and tariff uncertainty. The recent sale of a three-property portfolio across the county and near San Diego is evidence.
MetLife Investment Management sold the properties, collectively known as the Golden Coast Portfolio, to three buyers in separate deals for a total of $165.5 million. Cushman & Wakefield’s Jeff Chiate, Rick Ellison, Matt Leupold, Bryce Aberg, Aubrie Monahan, Jeff Cole and Charlie Jacobs represented MetLife in the deal and procured the buyers. The brokerage also announced the deal but did not disclose the individual prices for each property.
“The Golden Coast Portfolio is an exceptional collection of properties situated in strategic locations across Southern California,” Chiate said in a statement. “Their positioning within key industrial hubs makes them highly sought-after investments.”
Two of the industrial sites, The Concourse and the Redondo Beach Two Pack, are on opposite ends of L.A. County. TA Realty purchased the former, a 420,697-square-foot facility at 18605-18645 Gale Avenue in the City of Industry. Terreno, meanwhile, purchased the latter, a fully leased, 99,340-square-foot property at 3700-3730 Redondo Beach Avenue in Redondo Beach.
General Investment and Development (GID) purchased the property in Carlsbad, Calif., in San Diego County. The Carlsbad Oaks Business Park, at 2791-2793 Loker Avenue West, is a two-building, 78,143-square-foot property roughly 40 miles north of Downtown San Diego.
“The successful disposition of this portfolio highlights the strength and resilience of the industrial real estate markets in Southern California,” Leupold added in a statement. “Investors continue to show confidence in the region’s ability to deliver consistent returns and significant opportunities for growth.”
Industrial vacancy across Greater L.A. rose slightly in the second quarter of this year, according to a recent market report by Cushman, up 20 basis points quarter-over-quarter to 4.8 percent. Greater L.A.’s construction pipeline has remained relatively restrained, with about 4.5 million square feet of space currently under construction.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
