 |
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.
