NAI Capital Completes Sale of 2-Building Warehouse Totaling 46,391 SF in Lynwood, CA
Irvine, CA, Monday, Thursday, September 21, 2017– Executive Vice President David Knowlton, CCIM, SIOR with NAI Capital completed the sale of a two-building warehouse facility totaling 46,391 square feet in Lynwood, Calif. Knowlton, represented the seller a private individual. The buyer was Lynwood Santa Fe LLC. The total sale price was $4,938,646 or $106.46 per square foot.
The buildings are located at 11010 & 11020 Santa Fe Avenue. Both are free standing industrial warehouses, one was built in 1951 and the other in 1959. The warehouses are situated on a 2.5 acre lot located within the greater South Bay industrial market area. The property is centrally located with excellent access to the 105 freeway, between the 110 on the West and 710 freeway on the East, only a few minutes from The Alameda Corridor. At the time of the sale the building was 100% vacant and will be reconditioned by the buyer.
Knowlton said, “This sale is indicative of what is going on in the tight Los Angeles industrial market. A shortage of industrial product for sale and strong user demand continues to push up prices. Well located industrial product, along transportation corridors, is selling at a premium.”
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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