Cabot Properties Acquires Entitled Torrance Industrial Site in South Bay; JLL Arranges Sale
LOS ANGELES — Cabot Properties has acquired a fully entitled industrial development site at 19701 Hamilton Ave. in Torrance, California, in Los Angeles' South Bay submarket, JLL Capital Markets announced Nov. 6.
JLL represented the seller, a Brookfield-backed fund, in the transaction. The 5.42-acre property is approved for the development of a 122,533-square-foot Class A industrial facility.
Cabot Properties Buys Permit-Ready Torrance Site
The property is fully entitled and permit-ready for a modern industrial facility designed to accommodate a range of manufacturing, warehouse and distribution uses, according to JLL. Brookfield's BGRE operating team secured the entitlements before the sale. The site is zoned M3-1 Heavy Industrial and sits within a federally designated Opportunity Zone.
The planned building would include 32-foot clear height, 18 dock-high doors, one grade-level door, 135-foot truck courts, ESFR sprinklers and 64 automobile parking stalls. The site has no existing building, and the transaction concerns a development opportunity.
Location and Access in the South Bay
The site provides immediate access to Interstates 110 and 405 and is approximately 11 miles from both the Port of Los Angeles and the Port of Long Beach. It also connects to Los Angeles International Airport and the region's rail, highway and cargo infrastructure, JLL said, making it suited to industrial users with regional, national and international distribution needs.
JLL described the South Bay as being in the midst of an advanced manufacturing boom, with aerospace, defense and other advanced manufacturing users expanding across the submarket. The firm cited the area's proximity to the ports, its labor pool and its concentration of aerospace, defense, technology and logistics companies as factors drawing these users, who are seeking modern facilities near established supply chains, transportation infrastructure and skilled talent.
South Bay Industrial Market Context
Market data indicate that South Bay conditions were tightening in 2026. Colliers reported 12.8 million square feet of year-to-date gross activity through the third quarter, including 2.6 million square feet in the third quarter alone. South Bay vacancy stood at 4.7% in the third quarter, down from 5.8% a year earlier, and average asking rent reached $1.54 per square foot per month on a triple-net basis, up 2% year over year.
Lee & Associates reported 847,509 square feet of third-quarter net absorption in the South Bay, availability of 5.3% and average asking rents of $1.45 per square foot on a triple-net basis. The differing figures reflect differences in methodology and reporting universes, but both point to comparatively tight availability.
On the supply side, Colliers recorded 1.30 million square feet of South Bay net absorption in the second quarter and reported that 731,000 square feet of new projects broke ground, largely driven by advanced manufacturing and aerospace demand. The second-quarter construction pipeline totaled approximately 1.21 million square feet.
Deal Team and Firm Backgrounds
The JLL Capital Markets team was led by Senior Director Chad Solomon and Senior Managing Director Patrick Nally, along with Director Makenna Peter and Associate Shae Vomund. The JLL Markets leasing team included Vice Chairman Zac Sakowski and Managing Director Brianna Demus.
Cabot Properties is an international private equity real estate firm focused on the logistics sector. Founded in 1986, it has invested more than $19 billion in logistics real estate, served more than 4,470 tenants and operated more than 1,790 buildings totaling more than 251 million square feet. The firm is headquartered in Boston and maintains offices in Atlanta, Chicago, Dallas, Los Angeles, London, Amsterdam, Sydney, Tokyo, Munich, Houston, New York, Orlando and New Jersey.
JLL's Capital Markets group provides capital solutions for real estate investors and occupiers, including investment sales and advisory, debt advisory, equity and fund placement and other services. The group has more than 3,000 specialists in offices in nearly 50 countries.
Outlook
The acquisition gives Cabot control of an entitled infill site in a market that JLL describes as one of Southern California's most supply-constrained industrial markets, positioning the asset to serve advanced manufacturing, aerospace and logistics users. The site's entitled status means the buyer does not need to complete the approval process before moving toward development.
Sources
More Property Transactions
Willis Lease Finance Corporation Buys Greystar's Cocomar Business Park in Coconut Creek for $118 Million
