 |
Aerial photo of 182,275 square-foot industrial building
located at 159 North San Antonio Avenue
in the infill Los Angeles County
submarket of Pomona, CA
|
POMONA, CA -- Stos Partners,
one of the most active commercial real estate investment and management firms
in Southern California, announced its recent disposition of a 182,275
square-foot industrial building located at 159 North San Antonio Avenue in the
infill Los Angeles County submarket of Pomona, California for $45.9 million. |
| CJ Stos |
Stos paid $21 million for the property in
July 2021.
Stos self-represented itself as the
seller in the transaction. Jeffrey Cole, Jeffrey Chiate, Bryce Aberg, Brad
Brandenburg, Mike Adey, and Zachary Harman of Cushman & Wakefield
represented the buyer in the transaction.
 |
| Jeffrey Cole |
“As a highly active buyer in Southern
California, our firm leveraged its close relationships with local brokers to
acquire this asset in 2021,” says CJ Stos, Principal at Stos Partners.
“Upon a successful year of ownership, we
were able to capitalize on the strong market demand for industrial space in Los
Angeles County and secure a premium sale price for this property.”
 |
Jeffrey Chiate
|
Demand for well-situated industrial space
in the market has skyrocketed since 2021, with warehouse properties commanding
a 63.1% higher
sales price point in Q2 compared to the
previous quarter. Stos Partners took advantage of the limited availability of
this space in the market to seek out a buyer.
“This quarter, we have seen vacancy
levels an all-time low in Los Angeles,” notes Tanner Jansen, Vice
President of Acquisitions at Stos Partners. “At a vacancy rate of
0.9%, the second lowest in the U.S., Los Angeles
continues to appeal to both users and owners.
 |
| Tanner Jansen |
"This asset offers the buyer
immediate cash flow and long-term value creation opportunities over the next
several years.”
The project is situated on 8.48 acres of land and is 100% occupied by an
in-place tenant, credit-backed
manufacturing and distribution company.
“The fact that there
is a continuing occupier at this property demonstrates the strong demand for
prime industrial space by users in the area,” notes Jason Richards,
Partner at Stos Partners.
 |
| Jason Richards |
“Tenants have been
quick to renew leases and secure their spot in the tight Los Angeles market,
making this asset especially desirable for investors.”
Amenities at the
rail-served property include 18 dock- and 12 grade-level doors, 19’ to 21’-high
ceilings, 7,200 square feet of office space, 82 parking spaces, two street
entrances, and convenient access to nearby shipping ports and airports to
facilitate distribution processes.
 |
| Jay Boyle |
“Given the fierce competition and scarce
inventory available for amenitized, well-located industrial properties in the
Los Angeles region, the move to sell this asset was a strategic and
well-planned initiative for our firm,” says Jay Boyle, Executive Vice
President at Stos.
“We identified an excellent opportunity
to benefit from the ongoing growth of this market and the property’s multitude
of attributes.”
Contacts:
Arleeny Escarcega / Katie Haga
The Smart Agency,
Inc.
(949) 438-6262
aescarcega@thesmartagency.com
