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| Sinclair Printing Purchased this 130,392-SF Industrial Warehouse in Palmdale, CA |
PALMDALE, CA – DAUM Commercial Real Estate Services has
completed the sale of a 130,392 square-foot industrial warehouse in the
northern Los Angeles County submarket of Palmdale, California, on behalf of the
seller, Sinclair Printing, according to DAUM’s Vice President Dennis
Marciniak, who completed the sale along with Vice President Larry McEwan.
The buyer, California-based real estate firm Greenlaw Partners, has
secured a major multinational technology company as a tenant to occupy the
entire building.
“Our client was consolidating its commercial printing operations in the
Los Angeles area and looking to quickly secure a premium price in order to
liquidate the asset and focus on future growth,” says Marciniak.
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| Dennis Marciniak |
McEwan notes that the property was in demand due to its positioning as one
of the largest manufacturing buildings in the Antelope Valley, an extremely
tight market seeing sub-2% industrial vacancy rates.
“Along with strong market fundamentals, this asset was
attractive to potential buyers due to its location in a foreign-trading zone, which
offers the incentive of reduced tariff burdens for owner-users and tenants,”
McEwan continues.
“In addition, we were able to leverage the fact that the
buyer purchased a 26-acre lot adjacent to this property to negotiate and close
this win-win deal for both parties.”
According to Marciniak, the building has a prime location within the
Palmdale Trade and Commerce Center, in close proximity to many freeways
including State Routes 14, 138, and 122, which provide convenient access
throughout the region and to the ports of Los Angeles and Long Beach. The
property is also a 10-minute commute from the Palmdale Regional Airport.
The asset, which was sold for $15 million, also exhibits
unique features and functionality that add to its appeal, notes McEwan.
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| Larry McEwan |
The property sits on 8.69 acres and includes ample warehouse
space, 15,000 square feet of office, a conference room, and an overflow storage
area.
The building features 28’ clear height, four dock-high
loading doors, and 100% refrigerated air.
The warehouse is located at 600 W. Technology Drive in Palmdale,
California.
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