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| Michael Collins |
RANCHO DOMINGUEZ, CA –
DAUM Commercial Real Estate Services facilitated the acquisition of a 104,339
square-foot industrial building situated on 4.45 acres in the Rancho Dominguez
submarket of Los Angeles County on behalf of national REIT Industrial Property
Trust Inc. (IPT).
IPT has commenced a $2.5
million capital improvement campaign to modernize and optimize the building.
“This is an institutional
buyer with a strong track record of success in the acquisition and operation of
industrial properties,” says Michael
Collins, Vice Chairman of DAUM Commercial, who represented IPT as the buyer
in this transaction.
“This property is exceptionally well-located, with direct
access to the Ports of Los Angeles and Long Beach, making it well-positioned to
meet the needs of industrial users throughout the South Bay region.”
Collins notes that the
property offers strong fundamentals, including excellent dock-high loading, a
large truck court, warehouse clearance up to 26 feet, a large fenced yard, a
calculated sprinkler system throughout, and highly visible freeway frontage
along I-710.
“In addition to its
features, the property is situated in a submarket that currently boasts sub-two-percent
industrial vacancy rates,” continues Collins.
IPT’s renovation plan
includes adding additional dock high loading, a new roof, new exterior and
interior paint, yard upgrades to accommodate more truck traffic, as well as
interior improvements that will enhance the aesthetics and functionality of the
existing warehouse and office space.
Adam Deierling,
IPT’s Vice President – Western Region, explains, “This asset is well-aligned
with our ongoing investment strategy, which is to acquire high quality,
well-positioned distribution warehouses in infill markets. We recognized the
opportunity to add value through a series of renovations that will allow us to
improve its functionality and meet the demands of today’s industrial users.”
DAUM Commercial’s Michael
Collins and Jordan Lara will serve
as exclusive leasing agents for the property. Interested tenants may contact
the team at (310) 538-6700.
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| Adam Deierling |
The property is located
within eight miles of the Ports of Los Angeles and Long Beach, and in close
proximity to Los Angeles International Airport and Downtown Los Angeles.
The building, which was
acquired for $12 million, is located at 18554 South Susana Road in Rancho
Dominguez, California. The seller, an industrial owner-user, was represented by
Robert Colacion of Gateway Business
Properties.
For a complete copy of the company’s news release,
please contact:
Elisabeth Manville
Junior Account Executive
Brower, Miller & Cole
895 Dove Street, Third
Floor
Newport Beach, CA 92660
p: (949) 955-7940
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