BH Properties Acquires Tres Puentes Distribution Center for $8.6 Million
Third property purchased via online real estate marketplace Auction.com by BH Properties
Torrance, CA – June 12, 2013 – (RealEstateRama) — BH Properties, LLC, a Los Angeles-based commercial real estate investment firm, has purchased the 313,120-square-foot Tres Puentes Distribution Center at 1501 International Blvd. for $8.6 million.
“The Tres Puentes purchase falls in line with our focus on border town industrial properties,” said Executive Vice President and general counsel of BH Properties Steve Jaffe. “This marks our second property in the submarket (with the prior purchase in McAllen, Texas). We will look to add to our border holdings in Texas, Arizona and California over the next two years.”
“We plan to ramp up the leasing effort on this high quality asset to capitalize on the improving economy,” said Jaffe noting that this transaction follows BH Properties previous Auction.com office property win of 2085 Rustin in Riverside, Calif. earlier this year. This high quality asset is at an ideal location and size to attract tenants with business interests on both sides of the border.
About BH Properties, LLC
Founded in 1997, BH Properties is a Los Angeles-based commercial real estate investment company that focuses primarily on troubled assets in the industrial, multi-family, office and retail markets. With regional offices in Dallas and Salt Lake City, BH Properties has developed its own distinctive acquisition strategies in 17 states and become one of the repositioning experts in its core markets including California, Arizona, Nevada, Utah, Colorado, Texas, and Oklahoma. For more information, please call (310) 820-8888 or visit www.bhproperties.com.
