Stonelake Capital Partners Makes First Southern California Industrial Acquisition with 40,210 SF Commerce Property
Stonelake Capital Partners, a real estate private equity firm headquartered in Texas, has acquired a 40,210-square-foot Class-A industrial asset at 5901 Triumph Street in Commerce, California — the firm's first acquisition in Southern California, the company announced April 7, 2026.
The single-tenant building, constructed in 2023, features 32-foot clear heights and is 100% leased with captive tenancy. The property sits within the Central Los Angeles submarket and offers direct access to the greater Los Angeles and Orange County transportation networks.
A Rare Asset in a Supply-Constrained Submarket
The Commerce property represents an uncommon opportunity in the Central Los Angeles submarket. The submarket contains approximately 17.6 million square feet of Class-A industrial space, yet only 3.8% of that inventory falls below 50,000 square feet — a scarcity that the firm cited as central to its acquisition rationale.
"This transaction marks a significant milestone as it represents Stonelake's first Southern California property acquisition, underscoring the significant demand for shallow-bay light industrial properties in highly sought-after infill markets," said Travis W. Eickenhorst, who leads Stonelake's industrial efforts in Southern California alongside Hayden Fronterhouse. "With limited vacancy and strong demand fundamentals, we believe light industrial properties with Class-A specifications will continue to experience strong demand and premium rents."
The property's 2023 vintage, institutional-quality specifications, and sub-50,000-square-foot footprint combine to make it a difficult-to-replicate asset in the market, according to the firm. Its location in Commerce provides connectivity to Los Angeles' expansive freeway network, supporting efficient distribution across the region.
Stonelake's Industrial Portfolio and Sunbelt Strategy
Prior to this transaction, Stonelake owned 22.5 million square feet of industrial properties across 230 buildings in 14 Sunbelt markets, with an average building size of approximately 95,000 square feet. Since 2014, the firm has acquired or developed 391 industrial buildings totaling 34.5 million square feet across the Sunbelt.
The firm's broader commercial real estate portfolio — which spans industrial, multifamily, and office properties — exceeds $5.0 billion in assets. That includes more than 34 million square feet of industrial warehouses, 8,155 multifamily units, and 3.3 million square feet of office buildings.
"Stonelake continues to have tremendous conviction in our investment strategy of creating high-quality, light industrial portfolios at-scale in infill locations in markets with meaningful demand drivers. 5901 Triumph fits well within our portfolio," said Kenneth Aboussie, Jr., Stonelake's Managing Partner.
Cushman & Wakefield Brokers the Transaction
Cushman & Wakefield brokered the sale, representing both the seller and the buyer. The brokerage team included Jeff Chiate, Rick Ellison, Matt Leupold, and Aubrie Monahan. Financial terms of the transaction, including the purchase price, were not disclosed.
Travis Eickenhorst and Hayden Fronterhouse are leading Stonelake's ongoing industrial efforts in Southern California following the acquisition.
Firm Background
Stonelake Capital Partners was founded in Austin, Texas in 2007 by Kenneth Aboussie and John A. Kiltz. The firm maintains offices in Austin, Dallas, and Houston and manages institutional capital through discretionary private equity investment partnerships. Its investor base includes college endowments, charitable foundations, hospital systems, and pension funds. Over 19 years, Stonelake has raised $3.2 billion of equity across nine private equity funds.
The firm's Sunbelt strategy spans markets including Atlanta, Austin, Charlotte, Dallas, El Paso, Houston, Nashville, Orlando, Phoenix, Raleigh, San Antonio, South Florida, and Tampa — with Southern California now added to that list.