Strategic Acquisition of Bellegrave Business Park
Birtcher Anderson & Davis Associates, Inc. (BA&D) and Belay Investment Group have successfully completed the acquisition of the Bellegrave Business Park, a six-building multi-tenant industrial complex. This notable property features an impressive 121,320 square feet of space, marking a significant addition to their investments in the Inland Empire area.
Highlights of the Acquisition
Daniel Karcher, President of Birtcher Anderson & Davis, expressed enthusiasm over this strategic move into the Inland Empire industrial market. The acquisition of Bellegrave will enhance their capability to meet the growing demand for industrial space among small businesses in Southern California. Karcher noted that they have previously developed and sold over 20 buildings in Jurupa Valley, and this new property aligns perfectly with their ongoing initiatives.
Karcher stated, "The property is strategically located to serve the growing demand from small businesses in Southern California. With no new competitive developments planned or under construction, we anticipate sustained rental growth and high occupancy throughout our investment period."
Belay's Perspective on the Deal
Eliza Bailey, Co-Founder, CEO & CIO of Belay Investment Group, highlighted the substantial potential of this investment. She emphasized that the acquisition encompasses various critical factors in their multi-tenant industrial strategy, such as an attractive entry price below replacement cost and a strong potential for adding value.
Bailey mentioned, "We believe the Bellegrave investment positions us well within one of the top infill industrial markets in the U.S. We are eager to collaborate with Birtcher to execute a robust new business plan that maximizes value for all stakeholders involved."
Collaborative Success in Real Estate Investments
Jake Loughridge, Managing Director of Belay, pointed out that this acquisition marks their sixth successful partnership with Birtcher, which collectively amounts to around $220 million in total capitalization across various multi-tenant industrial properties throughout regions like Southern California, Texas, and Florida.
The property at Bellegrave features diverse bay sizes, ranging from 500 square feet to larger units of 10,678 square feet, equipped with grade-level loading. This variety allows tenants the flexibility to configure spaces according to their specific needs, including options for growth and adding private fenced yard areas for additional functionality.
About Birtcher Anderson & Davis
Birtcher Anderson & Davis (BA&D) is a California-based, privately-owned real estate investment firm specializing in the development and management of industrial properties. With a strong presence in high-growth markets, BA&D is dedicated to acquiring middle-market, multi-tenant warehouse facilities that offer value-add opportunities for investors and tenants alike.
About Belay Investment Group
Belay Investment Group, LLC is an esteemed real estate investment management firm committed to creating scalable access to small-scale real estate ventures. By partnering with local industry specialists, Belay ensures exclusive access to unique investment opportunities across various risk profiles and property types across the United States.
Frequently Asked Questions
What is the size of the acquired Bellegrave Business Park?
The Bellegrave Business Park spans 121,320 square feet and includes six buildings designed for multi-tenant occupancy.
Who were the key people involved in the acquisition?
The acquisition was announced by Daniel Karcher of Birtcher Anderson & Davis and Eliza Bailey of Belay Investment Group, among others.
What strategic advantage does this acquisition offer?
This acquisition allows BA&D and Belay to better address the demand for small business space in Southern California while capitalizing on the limited supply of similar properties.
Which regions are impacted by this acquisition?
The acquisition primarily impacts the Inland Empire region of Southern California, a rapidly growing industrial market.
How does this acquisition fit into historically past investments?
This deal marks the sixth venture in partnership between Birtcher and Belay, underscoring a successful history of collaborative investment in the multi-tenant industrial sector.
