NAI Capital Completes Headquarters Sale-Leaseback for Twin Dragon Marketing
NAI Capital Completes Headquarters Sale-Leaseback for
Twin Dragon Marketing
Gardena, CA, Wednesday, September 16, 2015–Senior Vice Presidents Jesus H. Henao and Senior Associate Paul Bellgraph with NAI Capital represented the seller Twin Dragon Marketing and buyer 14600 Broadway, LLC. on the sale of the 37,080 square foot Twin Dragon Marketing headquarters location in Gardena, Calif. The sale price was $4.15 Million or $111.92 per square foot.
The property located at 14600 South Broadway in the city of Gardena, CA was 100% leased to Twin Dragon Marketing at time of the sale. The 44 year-old brick building was sold as a single tenant net leased fee interest investment. It is a single story warehouse/distribution building situated on 1.9 acres of land between West Rosecrans Avenue and West Compton Boulevard in a prime location within the South Bay industrial submarket just east of the 110 freeway.
Founded in 1980 Twin Dragon Marketing is a multinational textile manufacturer specializing in denim textiles, innovative denim washing and pioneering fashion fabric trends. Twin Dragon Marketing is internationally recognized in the textile and denim markets for its passionate dedication to superior product quality and customer-conscience service & logistics. Twin Dragon Marketing has an annual global production capacity for over 80 million square yards. 4600 South Broadway serves as their corporate headquarters.
This was a very unique transaction. It was an off-market deal, involving a 1031 exchange and took two weeks to close. Henao said, “This property presented the seller Twin Dragon Marketing with the opportunity to pull out the equity from their real estate and put it to work in their business.” Bellgraph added, “1031 exchanges are difficult to complete, with limited time timeframes and availability of leased product for sale. In purchasing this property, the buyer got a built-in long term tenant and a good building. The uniqueness of the real estate combined with credit worthiness of the tenant was a win-win for the seller and buyer.”
About NAI Capital
NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California member of NAI Global, a premier real estate service network with 375 local offices and 6,700 local market leaders spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services.
NAI Capital Brokerage CA BRE #00806840.
To learn more, visit www.naicapital.com
About NAI Global
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.
NAI Global was acquired in 2012 by C-III Capital Partners, a leading commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, online capital markets, title services and multifamily property management. C-III’s principal place of business is located in Irving, TX, with additional offices in New York, NY, Greenville, SC and Nashville, TN.
To learn more, visit www.naiglobal.com.
# # #