Blackstone’s Link Logistics Sells L.A. Industrial Complex for $123M

One of the largest industrial investment firms has unloaded a fully leased development to a private investor for over $120 million.

Blackstone’s Link Logistics sold the 265,418-square-foot, Class A industrial building in Southern California’s South Bay for $123 million. An entity run by Christina K. Wong, president of Asian food provider Golden Star Trading, acquired the asset at 588 Crenshaw Boulevard in Torrance, PropertyShark records show. 

The buyer also secured a $91 million loan from Madison Realty Capital tied to the acquisition, per records. Clothing company Next Level Apparel leases the entire property, which also includes about 15,000 square feet of office space. 

“This transaction exemplifies the type of infill industrial financing where Madison thrives: high-quality assets in irreplaceable port-adjacent locations, backed by a proven sponsor and durable tenancy,” Josh Zegen, Madison Realty co-founder and managing principal, told CO in an email. “South Bay is one of the most supply-constrained industrial markets in the country, and these properties are well positioned to benefit from long-term demand tied to the Los Angeles and Long Beach ports.”

The Klabin Company’s Tyler Rollema and Matt Stringfellow announced the deal and represented Wong in the sale (though did not disclose her name), and Max Benjamin Partners’ Jason Moyal and Zach Novatt arranged the financing. Despite the scarcity of available industrial properties in Los Angeles County’s South Bay, the buyer needed a Class A property in Torrance larger than 250,000 square feet, according to the brokerage firm. 

“This sale is a meaningful benchmark for the L.A. industrial market and a strong signal of a continued attraction to Torrance,” Rollema said in a statement. “Our client was focused on a true Class A asset in a very specific location, and this property checked every box. 

“Torrance has quickly become the most dynamic submarket in the South Bay, if not all of L.A., driven by the innovation economy, particularly aerospace, high tech, automotive, and electric vehicle research and design,” Rollema added. “Just as important, the buyer wanted an asset that supports job growth and benefits the local community, and Torrance continues to attract the kind of high-quality tenants that do exactly that.”

The South Bay, and Torrance in particular, is among the most in-demand areas for industrial space in L.A. County due to its proximity to L.A. International Airport and the Ports of L.A. and Long Beach. The South Bay’s vacancy rate has steadily decreased since its five-year peak in mid-2025, dipping to 5.7 percent in the final quarter of last year, according to a recent market report by Colliers. 

Indeed, a number of firms have expanded their footprints in the area over the past 12 months. Aerospace engineering firm Trio Manufacturing tripled its square footage in March to more than 123,000 square feet, at an industrial property roughly five miles northwest of Wong’s new building. 

Nick Trombola can be reached at ntrombola@commercialobserver.com.