Daum Commercial Completes $10.7 Million Sale of Fully-Leased 64,320 SF Food Processing Facility in Los Angeles County

 SALE: $10.7 Million, Fully-Leased 64,320 SF
Food Processing Facility at 15430 Proctor Avenue
 in City of Industry, CA, Los Angeles County

CITY OF INDUSTRY, CA – DAUM Commercial Real Estate Services has completed the investment sale of a 64,320 square-foot fully leased industrial food processing and manufacturing facility, situated on 3.86 acres of land in the Los Angeles County submarket of City of Industry, California.

 The property at 15430 Proctor Avenue in City of Industry, CA was sold for $10.7 million

Robert (Bob) Dipre

 Bob Dipre and Dennis Sandoval, both Executive Vice Presidents at DAUM Commercial, represented the seller, Gaytan Group LLC, and procured the buyer, Rexford Industrial, a real estate investment trust company with an emphasis on industrial properties throughout Southern California.

 “After more than 10 years of ownership, Gaytan Group made the strategic decision to sell based on record-high industrial demand and influx of investor capital into the market,” says Dipre.

 “Based on our decades of experience in the San Gabriel Valley submarket and knowledge of current industrial trends, we were able to secure a buyer who understood the long-term value of the investment at a price that reflected its worth.”

 Sandoval notes that the San Gabriel Valley market is seeing sub-2% industrial vacancies, according to a recent DAUM report, as it remains a hub for both traditional manufacturing as well as last-mile distribution due to its prime location.

Dennis Sandoval

“With this acquisition, Rexford Industrial adds a stable, cash-flowing investment to its exceptional portfolio of industrial properties,” explains Sandoval. 

“The USDA-approved food processing facility is on a long-term lease to an established credit tenant specializing in meat and wheat flour snacks manufacturing, with options to extend.”

The City of Industry is a critical contributor to the labor market within the San Gabriel Valley and Southern California, and is home to several regional and national manufacturers, distributors, and other industrial users, adds Sandoval.

The property is conveniently located near major highways, helping facilitate seamless transportation throughout the region, and in close proximity to the Ports of Los Angeles and Long Beach and multiple major airports.

 

CONTACTS:

 

Arleeny Escarcega / Elisabeth Manville  

The Smart Agency, Inc.

(949) 438-6262

aescarcega@thesmartagency.com

 

www.daumcommercial.com.