LOS ANGELES, CA (April 30, 2019)—Hackman Capital Partners, LLC, a Los-Angeles-based real estate investment and operating company, announced today the acquisition of 8821 Aviation Boulevard. A 9,380-square-foot industrial warehouse on approximately 72,000 square feet of land, the property is located in the Los Angeles International Airport (LAX) submarket and in a micro-pocket that includes rental car company tenants, such as Hertz, Enterprise, Sixt, Silvercar (Audi), National and Alamo, where Hackman Capital Partner affiliates own six other buildings. The properties are all adjacent to the future Crenshaw/LAX Metro Line, due to open in 2020, and the future CONRAC, due to open in 2024.
“We’re excited to be expanding our footprint in this high barrier-to-entry submarket,” said Matt Landstrom, Hackman Capital’s Vice President of Acquisitions. “The newly acquired property at 8221 Aviation Boulevard is one of the few remaining immediately developable parcels in the area. The property’s proximity to the airport and multiple forms of mass-transit is expected to attract a variety of industrial and commercial users.”
In addition to car rental companies, the LAX submarket is largely occupied by transportation companies, a wide variety of air freight and logistics businesses, and numerous West Los Angeles warehousing transplants that have been displaced out of surrounding markets.
MORE ABOUT HACKMAN CAPITAL PARTNERS
Hackman Capital Partners is a privately-held, real-estate investment and operating company that focuses on commercial and industrial properties in major U.S. markets. Founded in 1986, the company has invested more than $3.5 billion in properties across 41 states—having owned, through affiliated entities, over 400 buildings totaling 35-plus million square feet. More than 7.6 million square feet of those properties have been located in California.
The company’s most notable Southern California projects include Television City Studios, a 780,000-square-foot television and broadcast facility; The Culver Studios, a 14.3-acre film and television studio campus and home of Amazon Studios; The Culver Steps, a 1.16-acre, mixed-use development, directly adjacent to The Culver Studios and also home to Amazon Studios; a 75,000-square-foot creative office conversion at 5500 West Jefferson Boulevard in Los Angeles; a 550,000-square-foot creative campus conversion in El Segundo; the Beats/Apple Southern California headquarters; and Westwood One Studios. Hackman Capital Partners is currently constructing approximately 1 million square feet of creative office and media-related campus space in Southern California.
Hackman Capital Partners is headquartered in Los Angeles, California and has an additional office in Columbus, Ohio.