NAI Capital Completes Industrial Portfolio Sale in the Tightest Los Angeles Industrial Market
Los Angeles, CA, Tuesday, November 14, 2017– Senior Vice Presidents Dave Maron, with NAI Capital completed the sale of a 2-building industrial portfolio located in Gardena, Calif. Maron represented the seller Hershon Realty Co & Redondo Realty Co and buyer Rexford Industrial in the transaction. The portfolio sold for $6.69 million or $112 per square foot.
The portfolio sale included two buildings located at 15401 S Figueroa St and 13225 S Western Ave in the city of Gardena. Both properties featured heavy power as freestanding manufacturing facilities. Building sizes: Figueroa St is 38,584 square feet on 70,567 square feet of land and Western Ave totalled 21,010 on a 41,529 square foot lot. Minutes from the 110 Freeway, the properties are on major transportation corridors of the South Bay Industrial market - which is tightest industrial market in Los Angeles County.
Maron said, “This was an estate sale for my client. Within days of marketing the portfolio we received over 15 offers. With demand exceeding supply, market conditions are very tight. We were able to obtain $600,000 over the asking price. The new owners added 2 great industrial buildings to their portfolio, in the hottest industrial market in the nation.”
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #01990696.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional 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.
To learn more, visit www.naiglobal.com.
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