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| Mitch Conlee |
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
(949) 955-7940
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