Turnbridge Buys LA’s Eton Industrial Park for $28M
Turnbridge Equities, a real estate investment and development firm specializing in commercial and industrial opportunities, has announced the acquisition of Eton Industrial Park, a 205,000-square-foot multi-tenant industrial complex located in the Canoga Park neighborhood of Los Angeles, for $28 million. This acquisition marks the initiation of Turnbridge’s new investment strategy aimed at acquiring and repositioning multi-tenant industrial properties throughout Southern California.
Property Overview and Strategic Intent
Eton Industrial Park is currently 70% occupied, significantly below the submarket average occupancy rate of 98%. The property offers a variety of suite sizes, ranging from 1,400 to 22,000 square feet, providing flexibility to accommodate a diverse tenant base. Turnbridge plans to invest capital to enhance the property’s operations with the goal of unlocking long-term value and driving occupancy growth.
Market Context
The West San Fernando Valley, where Eton Industrial Park is situated, is recognized as one of the top-performing industrial submarkets in Southern California. This area consistently demonstrates low vacancy rates and strong rental rate growth, making it highly attractive to investors. The limited availability of industrially zoned land for new development, coupled with high construction costs for multi-tenant industrial properties, contributes to supply constraints in this segment of the market.
Leadership Insights
Michael Gazzano, Managing Director of Investments for Turnbridge Equities’ West Coast office, expressed enthusiasm about launching the new investment strategy with Eton Industrial Park. He highlighted the infill nature of the Greater Los Angeles region and the supply constraints as favorable factors for this market segment.
Jack Hechinger, Vice President of Investments, noted that the acquisition price of $135 per square foot allows for appropriate capital investment to drive rent and occupancy. He emphasized the West San Fernando Valley submarket as an ideal location to initiate this strategy and expressed anticipation for acquiring more assets throughout Southern California.
Brokerage and Leasing
The acquisition was brokered by the Newmark team, led by Jeff Abraham, who will also oversee the leasing efforts for the property.
About Turnbridge Equities
Founded in 2015 by Andrew Joblon, Turnbridge Equities is a privately held, vertically integrated real estate investment and development firm committed to creating transformative, high-quality properties in dynamic markets. The company’s portfolio spans a diverse range of asset classes, including mixed-use, office, retail, industrial, and residential developments across the United States. As of April 2025, Turnbridge Equities held interests in 58 properties with over $4 billion in total capitalization.
This strategic acquisition underscores Turnbridge Equities’ commitment to expanding its footprint in the Southern California industrial market and enhancing the value of underperforming assets through targeted investments and operational improvements.
