 |
| Six-Building, 149,772-SF, Fully Leased Industrial Portfolio Camarillo, CA |
CAMARILLO, CA – DAUM
Commercial Real Estate Services has completed the $24.5
million sale of a portfolio of six individual buildings, totaling 149,772
square feet, within a multi-tenant industrial complex in Camarillo, California.
Mitch Conlee, Executive Vice President at DAUM’s Ventura County office,
completed the sale on behalf of the seller, Marcus Adams Properties, a private
investor with offices in Ventura and Los Angeles, CA.
 |
| Tim Foutz |
The three buildings include 51 units which are leased to a total of 29
tenants, notes Conlee.
“When our Client decided to exit the market, we were tasked with
demonstrating the significant value of this portfolio due its fully-leased
status and the long-term fundamentals of the market,” explains Conlee, who
notes that Ventura County industrial vacancies remain in the tight two percent
range where asking rents have increased 7.1 percent year-over-year in Q3 2018,
according to a recent DAUM report.
“Through completing a thorough review of all 29 leases currently at the
asset, we ultimately secured a price reflective of the true value,” Conlee
continues.
 |
| Mitch Conlee |
“These buildings are an excellent addition to the buyer’s portfolio,” says
Foutz. “The assets present both built-in cashflow and strong future investment
potential, as well as a prime location with direct access to the 101 Freeway.
This transaction was a win-win for both the buyer and the seller.”
The individual properties that comprise the portfolio include an 81,172
square-foot building at 1250, 1260, and 1270 Avenida Acaso, a 31,391
square-foot building at 1199 and 1221 Avenida Acaso, and a 37,204 square-foot
building at 4098 Calle Tesoro.
CONTACTS:
Lindsay Mackay / Elisabeth Manville
Brower Group
(949) 955-7940
No comments:
Post a Comment