Wednesday, November 23, 2016
OXNARD, CA – BLT Enterprises, a multi-faceted real estate investment company, has sold a 91,950 square-foot industrial building in Oxnard, California for $11.75 million. The building is currently 100-percent occupied by Quaker Sales & Distribution, Inc., one of the world’s leading food and beverage companies.
“We have been a long-term owner in Oxnard and throughout Ventura County for more than three decades,” explains Bernard Huberman, Founder and President of BLT Enterprises. “The sale of this property demonstrates our continued strategy to shift our focus and diversify our portfolio to high growth markets in Orange, Los Angeles and San Diego counties.”
Huberman explains that BLT initially acquired the industrial building in 2001, and during its 15-year hold period, was able to significantly increase the value of the property.
“Our strategy has and always will be long-term holds,” says Huberman. “Throughout our ownership of this property, we were able to create a steady stream of income and drive long-term value through a series of capital improvements and strategic leasing. This resulted in strong investor interest in the current market, which allowed us to sell the property for a premium price.”
Quaker Sales & Distribution, a wholly owned subsidiary of PepsiCo., Inc. has occupied the building since 2012. Paul Farry at CBRE represented both the buyer and the seller in the transaction.
For a complete copy of the company’s news release, please contact:
Lexi Astfalk/Jenn Quader
Brower, Miller & Cole
Posted by Alex at 11:43 AM