SOURCE: American Realty Advisors

August 15, 2008 16:05 ET

American Realty Advisors Acquires Two Premier Industrial Properties in Southern California

GLENDALE, CA--(Marketwire - August 15, 2008) - American Realty Advisors announced today the acquisition of two high-quality, multi-tenant industrial parks totaling 358,910 square feet. They are located in two of the nation's best performing industrial markets: the South Bay of Los Angeles and North Orange County in Southern California. Broadway Center Business Park, a 189,714 square foot four-building, industrial property located in Gardena, California, offers tenants exceptional access to Los Angeles County's ports and transportation infrastructure. Walnut Avenue Industrial Park, a 169,196 square foot six-building, multi-tenant property located in Fullerton, California, is situated at the junction of the 91 and 57 freeways and enjoys excellent functionality and close proximity to a diverse labor force. Both properties were fully leased at acquisition and have enjoyed a long history of high occupancy. These acquisitions were completed on behalf of one of American's commingled funds.

Greg Blomstrand, Principal and Managing Director of Portfolio Management at American, stated, "Los Angeles County and Orange County are two of the nation's strongest industrial markets. We believe that both properties are well-positioned to continue their solid performance due to limited land supply and construction activity, the smaller tenant nature of these properties, and the close proximity to workforce and executive housing. Each of these properties offer excellent upside opportunity to increase operating income as current below-market rents can be adjusted to market upon lease rollover. These premier industrial properties are expected to generate solid returns for our investors over the long-term."

American Realty Advisors, a California corporation, is an SEC-registered investment advisor under the Investment Advisers Act of 1940 and a leading provider of real estate investment management services to institutional investors. With more than $4.4 billion* in assets under management, American has provided innovative real estate solutions to institutional investors for over 20 years utilizing core and value-added commingled funds and separate accounts. The firm's portfolios include office, industrial, multi-family, retail and other properties nationwide. Information regarding American can be found online at www.americanreal.com.

Forward-Looking Statements: This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are statements that do not represent historical facts and are based on our beliefs, assumptions made by us, and information currently available to us. Forward-looking statements in this press release are based on our current expectations as of the date of the release, which could change or not materialize as expected. Actual results may differ materially due to a variety of uncertainties and risk factors. Except as required by law, we assume no obligation to update any such forward-looking statements.

*Assets under management represent gross value of all assets and accounts managed by American as of June 30, 2008 (excluding partners' share of equity and partner's share of debt on partnership investments).

Contact Information

  • Contact:
    Joyce Ezaki
    818/409-3280