Sunday, April 16, 2017
OXNARD, CA – DAUM Commercial, a leading provider of commercial real estate services, has recently directed the sale of a 3.84 acre land parcel within the McInnes Ranch Business Park in Oxnard, California.
The buyer is designing a speculative warehouse distribution building to be developed at the site, according to Mitch Conlee, an Executive Vice President at DAUM’s Ventura County office.
Conlee represented the buyer, E&E Trust, as well as the seller, a Southern California developer, in this transaction.
“The ability to market this fantastic location allowed me to provide the seller with immediate upside based on tremendous demand in this supply-constrained market, which closed 2016 at just 2.7 percent vacancy,” Conlee explained.
“At the same time, we also brought E&E Trust a valuable development opportunity. This parcel is five minutes from the 101 Freeway in a market with low vacancy and very little state-of-the-art competition.
“The new owner plans to develop a 52,500 square-foot distribution building with 30-foot clear height in the warehouse, dock-high loading, as well as large aprons and truck courts, to accommodate the increasing traffic driven by e-commerce.
“The planned development will be in a strong position to meet ongoing demand for new product.”
Conlee has completed several industrial transactions in McInnes Ranch Business Park and the surrounding areas, and drew upon his deep knowledge of the market to direct this acquisition.
The land parcel is located at 500 North Elevar Street, on the corner of Elevar Street and Camino Del Sol in Oxnard.
DAUM Commercial is a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales and property management. Founded in 1904, DAUM focuses on longstanding client relationships and draws upon its century-long track record to deliver steadfast insights and proven results to clients throughout the U.S.
DAUM has 10 offices throughout Southern California and Arizona. More information is available at www.daumcommercial.com.
For a complete copy of the company’s news release, please contact:
Elisabeth Manville/Jenn Quader
Brower, Miller & Cole
Posted by Alex at 12:37 PM