Sierra Ridge Capital Buys 123,032 SF Industrial Building in Phoenix for $31M
Why this matters
Industrial has moved into a normalization phase after the 2020-2023 frenzy. Vacancies are up modestly, sublease space remains a watch item in the big-box logistics segment, and rent growth has shifted from double-digit to mid-single-digit. The long-term tailwinds — nearshoring, e-commerce penetration, infill scarcity — remain intact. Los Angeles is working asset-by-asset through an extended office reset. Hospitality on the West Side and selective industrial in the South Bay are where capital is currently moving; downtown Class B remains in price discovery. Institutional capital is calibrating between core income and value-add basis plays as the cycle matures.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 24th Los Angeles story tracked on the wire in October 2026. All Los Angeles coverage →
- Disclosed industrial deal value tracked in October 2026: $1.4B across 19 reported transactions. All Industrial coverage →
Computed from Real Estate Trail’s own tracked coverage
PHOENIX — Los Angeles-based Sierra Ridge Capital has acquired 3137 East Elwood Street, an industrial property in Phoenix, from Arizona-based 3137 East Elwood LLC for $31 million. Gary Cornish, Nico Burgarello, Barry G…
External link. Real Estate Trail does not republish source content.
Related coverage — Los Angeles · Industrial
Miramar-Linked Owner Markets 59,000 SQFT 1801 McCarthy Industrial Building in Milpitas Four Years After $18.55MM Buy
An entity tied to Los Angeles-based Miramar Acquisitions is seeking buyers for 1801 McCarthy Boulevard, a single-story, 58,750-square-foot industrial building in Milpitas it acquired from a Cullman family partnership…
Ross Stores Takes 115K SF for West Coast Merchandising Hub
Discount retailer Ross Stores has signed a 115,000-square-foot lease in one of the largest recent office commitments in Downtown Los Angeles, Commercial Observer can first report. The company will relocate its West Co…
CrownGuard Capital Provides $15.5M in Financing for Multifamily Repositioning Project in Rochester
ROCHESTER, N.Y. — CrownGuard Capital, a Los Angeles-based commercial lender, has provided $15.5 million in bridge and construction financing for a 95-unit multifamily repositioning project in Rochester. The address of…
RMR Lines Up $272M Mortgage Financing for Cedars-Sinai MOBs
The RMR Group Inc. has facilitated a $272.1-million interest-only mortgage financing secured by 8631 and 8635 W. Third St., two medical office buildings anchored by Cedars-Sinai Medical Center in Los Angeles. Morgan S…
Port of Los Angeles Posts Busiest Month in Its History
The Port of Los Angeles handled 1,042,652 Twenty-Foot Equivalent Units (TEUs) in September, the busiest month in its 118-year history. The volume was more than 20,000 units above the previous monthly record set in Jul…
Anderson Family Properties Lands $550M Refi for Century City Office Campus
Anderson Family Properties is set to close one of the largest U.S. office financing deals of the year in Los Angeles’ premier office submarket. The firm has secured a $550 million refinancing for its 940,000-square-fo…