Morgan Stanley Investment Management, through its real estate arm Morgan Stanley Real Estate Investing (MSREI), has acquired a last-mile delivery distribution facility near Los Angeles International Airport (LAX) for $211 million. The property consists of a newly developed Class A distribution building and an industrial outdoor storage parking site on 19 acres. It is under a long-term net lease to a major multinational e-commerce retailer.
David Gross, Managing Director at Morgan Stanley Real Estate Investing, said: “We are pleased to acquire this facility in a highly strategic distribution location, underscoring our continued strategy of securing key net lease investments in core logistics markets. This facility in particular is a critical asset for distribution and logistics needs in a significant region of Southern California where both a lack of space and regulatory hurdles present development constraints.”
The facility is located adjacent to LAX in West Los Angeles, providing access to communities such as Santa Monica, Brentwood, and Beverly Hills. These areas have about three million residents.
In November 2025, MSREI announced the sale leaseback of another industrial outdoor storage facility in Fontana, California. With the latest acquisition near LAX, MSREI’s U.S. industrial assets acquired this year total approximately $1.5 billion. The company’s U.S. industrial portfolio now exceeds 75 million square feet.
Will Milam, Head of U.S. Investments at Morgan Stanley Real Estate Investing, commented: “The rise of e-commerce has fundamentally increased demand for well-located, modern logistics assets which we believe are critical infrastructure for today’s economy and offer strong, long-term growth.”
Morgan Stanley Real Estate Investing manages $55 billion in gross real estate assets worldwide with teams across the United States, Europe, and Asia.
Morgan Stanley Investment Management oversees $1.8 trillion in assets as of September 30, 2025 and employs about 1,400 investment professionals globally.