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| SOLD: a two-building industrial complex totaling 145,000 square feet in the South Bay submarket of Los Angeles County, Ca |
UNINCORPORATED LOS ANGELES COUNTY, CA – DAUM Commercial Real Estate Services has completed the sale of a two-building industrial complex totaling 145,000 square feet in the South Bay submarket of Los Angeles County, California.
The complex was sold for a total
consideration of $17.25 million and is located at 13255 S. Broadway & 360
W. 132nd Street in Unincorporated Los Angeles County,
California.
The asset was acquired by Hager Pacific Properties, a
Newport Beach-based real estate investment firm specializing in industrial,
retail, and hospitality renovation projects, according to Michael Collins,
Vice Chairman at DAUM Commercial, who represented the seller, a private party,
in the transaction.
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| Michael Collins |
“Based on our
deep and long-standing relationships within the Southern California industrial
investment community, we were able to source a buyer who is well equipped to
address the challenges, ultimately closing at a price based on the current
status of the property.”
Collins notes that the property is located in one of the
tightest industrial submarkets in the county, which is seeing compressed
vacancy rates near 2%, according to a recent DAUM report.
“This is a prime opportunity for the buyer to leverage
previous experience remediating environmental issues and implement a proven
value-add strategy to realize the upside,” continues Collins.
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| Rob Neal |
The asset consists of one 108,000 square-foot building and
one 37,000 square-foot building, with each leased to a single tenant.
The complex
benefits from frontage on three streets, convenient access to major area
freeways, and close proximity to Downtown Los Angeles and the Ports of Los
Angeles and Long Beach.
CONTACTS:
Arleeny Escarcega / Elisabeth Manville
Brower Group
(949) 438-6262
aescarcega@brower-group.com
michael.collins@daumcommercial.com.
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