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| Stacy Vierheilig-Fraser |
LOS ANGELES, CA – Charles Dunn Company, one of the largest
full-service regional real estate firms in the western United States, has
completed the $3.05 million sale of a light industrial building totaling 24,400
square feet in Los Angeles.
Built in 1965 and
located at 1929 W. Pico Blvd., the property is situated on .73 acres of
land and is fully occupied by Loomis, an armored car transport service.
Chris Steck, senior director with Charles Dunn
Company, represented the Los Angeles-based buyer, Sam Jung Enterprises.
Stacy Vierheilig-Fraser, senior managing director
with Charles Dunn Company, represented the seller, Namco Liquidating Trust.
“The buyer owns
many other similar properties in the Los Angeles market,” said Steck. “The
acquisition provided the buyer with the opportunity to add value through lease
up of the property as Loomis will be vacating it by the end of the year. We
have already had great tenant interest in the building and are optimistic that
it will be leased soon.”
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| Chris Steck |
“The vacancy rate for small to mid-sized industrial property
in Los Angeles is very tight at 3.5 percent,” added Fraser. “We utilized our
existing relationships and quickly identified an ideal buyer for the asset in
an off-market transaction.”
For a complete copy of the company’s news release, please
contact:
Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224
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