GID Announces Acquisition of 104k+ sq ft Industrial Park in Los Angeles Suburb

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May 04, 2023, 09:17 ET

LOS ANGELES, May 4, 2023 /PRNewswire/ -- GID, a real estate owner and fiduciary that invests in multiple asset classes, has announced the acquisition of Pomona Business Center, an industrial building park in the East San Gabriel Valley submarket of Los Angeles. The acquisition adds over 104,000 square feet of industrial space to the firm's industrial platform.

Pomona Business Center comprises three buildings and is located at an intersection of major transit routes in the area: I-10, Highway 57, and Highway 71. The building park is currently fully leased to three tenants.

GID plans to make several improvements to the buildings, including the addition of indoor and outdoor LED lighting, upgrades to the facades and office interiors, and fencing along the front of the property.

To learn more about GID Industrial, visit www.gid.com/invest/industrial.

About GID
GID is a leading real estate investment and management firm that operates a diverse portfolio of multifamily, industrial, and mixed-use developments across the United States. With over 60 years of experience across multiple asset classes, GID is an established real estate private equity investor and fiduciary supported by an integrated operating platform with approximately 53,000 multifamily units and over 27M square feet of industrial and commercial space of assets under management. The company also launched a credit platform in 2022 that aims to provide commercial real estate debt solutions for institutional borrowers. 

With corporate offices in Atlanta, Boston, Dallas, New York City, and San Francisco, GID employs over 1,200 real estate professionals and operates an expansive portfolio of existing and under-development properties valued at over $29.7¹ billion as of March 2023.   

¹ Assets Under Management is calculated in compliance with the definition for Assets Under Management ("AUM") prescribed in INREV's Global Definitions Database.

SOURCE GID Real Estate