Korean Cosmetics Distributor Buys LA-Area Properties For $53M
The South Korea-based distributor of K-Beauty cosmetics called Silicon2 has purchased a pair of office and industrial buildings in Buena Park for $53.3M.
The sale price is $12.3M more than the properties traded for two years ago, the Orange County Business Journal reported.
The sellers, Staley Point Capital and Bain Capital Real Estate, announced the sale of the properties at 5530 Beach Blvd. and 5609 River Way but did not disclose the seller.
“This transaction demonstrates the success of well-located, high-quality assets and reflects our ability to deliver for our investors across cycles,” Staley Point Managing Partner Eric Staley said in a statement.
Orange County’s industrial vacancy was just 2.1% in the second quarter, according to Staley Point, “driven by diverse demand drivers including strong local consumption,” it said in a news release.
Silicon2 is a cosmetics distributor focused on Korean beauty products that serves more than 100 countries. The company has U.S. offices and logistics centers in California and New Jersey, The Real Deal reported.
