Daum Commercial Completes Challenging Industrial Sale in Los Angeles County's South Bay Submarket

SOLD: a two-building industrial complex
totaling 145,000 square feet
in the South Bay submarket
 of Los Angeles County, Ca

 

 UNINCORPORATED LOS ANGELES COUNTY, CA – DAUM Commercial Real Estate Services has completed the sale of a two-building industrial complex totaling 145,000 square feet in the South Bay submarket of Los Angeles County, California. 

The complex was sold for a total consideration of $17.25 million and is located at 13255 S. Broadway & 360 W. 132^nd Street in Unincorporated Los Angeles County, California.

The asset was acquired by Hager Pacific Properties, a Newport Beach-based real estate investment firm specializing in industrial, retail, and hospitality renovation projects, according to Michael Collins, Vice Chairman at DAUM Commercial, who represented the seller, a private party, in the transaction.

Michael Collins

“Our client owned a fully leased, well-located asset in the highly desirable South Bay submarket that had environmental concerns,” explains Collins.

 “Based on our deep and long-standing relationships within the Southern California industrial investment community, we were able to source a buyer who is well equipped to address the challenges, ultimately closing at a price based on the current status of the property.”

 

Collins notes that the property is located in one of the tightest industrial submarkets in the county, which is seeing compressed vacancy rates near 2%, according to a recent DAUM report. 

“This is a prime opportunity for the buyer to leverage previous experience remediating environmental issues and implement a proven value-add strategy to realize the upside,” continues Collins.

Rob Neal

“Rob Neal of Hager Pacific Properties was a delight and honored all of his timeframes and commitments, allowing for a smooth transaction.”

The asset consists of one 108,000 square-foot building and one 37,000 square-foot building, with each leased to a single tenant.

 The complex benefits from frontage on three streets, convenient access to major area freeways, and close proximity to Downtown Los Angeles and the Ports of Los Angeles and Long Beach.

 CONTACTS:

 Arleeny Escarcega / Elisabeth Manville  

Brower Group  
(949) 438-6262 
aescarcega@brower-group.com 

 

michael.collins@daumcommercial.com.

 

www.daumcommercial.com.

JLL Capital Markets leads financing efforts for the historic collection of 28 office and retail buildings at Denver’s Larimer Square

 

 Larimer Square offers 28 office and retail buildings
along Larimer Street and Market Street
in downtown Denver, CO

DENVER, CO – JLL Capital Markets announced it has arranged post-acquisition financing for Larimer Square, a historic mixed-use collection of 28 office and retail buildings along Larimer St. and Market St. in Downtown Denver, Colorado.

 JLL worked exclusively on behalf of the property owner to secure the financing, which will be used to help the property owner realize its vision for the project through extensive restoration and renovation of these historic buildings.

Anthony Fertitta

Originally built in the late 1800’s, Larimer Square is listed on the National Register of Historic Places and comprises approximately 247,856 square feet of creative office and retail space along a full city block. 

The portfolio also includes the 306-space Market Street parking garage.

 Situated in the heart of Denver’s historic lower downtown “LoDo” district, Larimer Square has been a catalyst of vibrant urban activation for more than 150-years.

The portfolio of buildings benefits from its core compilation of retail and restaurant tenants along with creative office space above.

Larimer Square has helped spur further historic preservation of existing brick and timber buildings as well as the development of new mixed-use projects throughout the LoDo area.

Kristian Lichtenfels

An attraction in its own right, Larimer Square is also proximate to the Cherry Creek bike path, University of Colorado Denver campus, Ball Arena and Coors Field.

 The JLL Capital Markets team was led by Senior Managing Director Anthony Fertitta and Senior Director Kristian Lichtenfels.

 JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement, or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

 For more news, videos and research resources on JLL, please visit our newsroom.

 CONTACT:

 Kristen Murphy

Senior Manager

 Public Relations

 Investor Services

JLL

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

 jll.com