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| Dennis Sandoval |
CITY OF INDUSTRY, CA – DAUM
Commercial Real Estate Services has directed the
individual sales of seven buildings that together comprise Echelon Business
Park, a newly-constructed industrial campus in the City of Industry, California
on behalf of the seller and project developer, Los Angeles-based industrial
development firm Dedeaux Properties. The total consideration of all sales was
approximately $50 million.
The seven freestanding buildings, which range in size from 27,438
to 43,166 square feet, received offers on building plans well before the
project broke ground, according to Dennis Sandoval, Executive Vice
President and Branch Manager in DAUM’s City of Industry office.
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| Bryan Sandoval |
“The rapid sale of these assets demonstrates the pent-up demand
for industrial ownership opportunities in Los Angeles County, particularly
in infill industrial submarkets like the San Gabriel Valley,” says
Sandoval, who directed the transactions along with DAUM Executive Vice
President Robert Dipre and Associates Bryan Sandoval and Kurt
Yacko.
“The buildings
were under contract since last year, before the foundation for the project was
even laid.
"We eventually received back-up offers on each of the properties and
ultimately sold to seven separate buyers, including a mix of distribution and
light manufacturing users.”
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| Robert Dipre |
“After directing the sale of the land parcel to Dedeaux Properties
last year, we worked closely with the developer to outline the strategy on this
project,” explains Sandoval. “We understood the tremendous demand for
industrial space and recognized that most new industrial developments in the
region are over 100,000 square feet.
"We advised Dedeaux to leverage the market demand by constructing smaller-sized facilities in the 25,000 to 45,000 square-foot range, rather than a single large building.
"These buildings
immediately filled a void in the market for modern product suited to smaller
distributors and manufacturers, meeting the significant demand
for property ownership in the small industrial sector.”
"We advised Dedeaux to leverage the market demand by constructing smaller-sized facilities in the 25,000 to 45,000 square-foot range, rather than a single large building.
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| Kurt Yacko |
The buildings feature ample dock-high and ground-level loading,
large truck courts, ESFR sprinklers, high-speed fiber optic cabling, and
two-story office space.
The Echelon Business Park campus also offers 60, 10, and 605
Freeway access allowing convenient routes to the Ports of Los Angeles and Long
Beach.
Echelon Business Park is located at 801-821 Echelon Court in City
of Industry, California.
For more information, please contact:
Elisabeth Manville /
Jenn Quader
(949) 955-7940
