Daum Commercial Brokers $11.52 Million Sale of 64,000-SF Industrial Warehouse in Industry, CA

Charles A. Johnson II

City of Industry, CA – DAUM Commercial Real Estate Services has directed the sale of a 64,000 square-foot industrial warehouse in the Los Angeles County submarket of City of Industry, California, on behalf of the seller, South El Monte, California-based Art Weiss Industrial Properties. 

Max Sales Group, a wholesale manufacturer of products including consumer electronics and home, auto, kitchen, and pet accessories, purchased the property for $11.525 million, according to DAUM Executive Vice President Charles A. Johnson II.

 “Art Weiss Industrial built this property in 1979 and has since held it in their portfolio until they made the internal decision to sell and capitalize on the market demand,” explains Johnson.

 “As one of the few available buildings of its size in the Lower San Gabriel Valley, which postedsub-2-percent direct vacancy rates at the close of 2018, we were able to secure one of the best prices among comparable properties in the submarket for the seller.”

According to Johnson, offering the asset for sale with approximately a year left on the in-place leases opened up a wider pool of potential buyers, increasing the competition in order to negotiate a strong price despite the building’s older vintage.

“Timing was everything in this deal. We strategically advised our Client to offer the property for sale once all competitors were off the market and our leases were in their final months.

"This allowed us to cater to buyers looking to take advantage of SBA financing while being the only game in town,” says Johnson.

“Ultimately, we identified a buyer who was looking for a well-positioned warehouse to meet its growing needs.”

Warehouse features include 24 feet of interior clearance, nine loading docks, two ground-level doors, 4,000 square feet of office space, and the option for a two-tenant layout.

The property is located within close proximity to California State Route 60, Interstate 605, and Interstate 10 at 15240-15250 Nelson Avenue in City of Industry, California.

CONTACTS:

Micaela Fehrenbach / Elisabeth Manville

Brower Group

(949) 438-6262

mfehrenbach@brower-group.com