NAI Capital Negotiates 1031 Exchange Warehouse-Distribution Property Sale
Los Angeles, CA, Thursday, November 17, 2016– Scott Linklater, Vice President with NAI Capital represented the buyer 28348 Constellation Road LLC on the purchase of a 21,147 square foot warehouse/distribution building in Valencia, Calif. The transaction totaled approximately $3 million or $140 per square foot. The seller was Patrick Crane.
The property is in the Santa Clarita Valley’s master planned Valencia Industrial Center located at 25060 Avenue Tibbitts. The building is a single tenant concrete tilt-up warehouse. Built in 1989, the facility sits on 43,445 square feet of land.
Linklater said, “My client needed more space for his growing distribution business. We identified 25060 Ave Tibbitts as an ideal free standing building for his operation. We were able to sell 1 of the 3 industrial condos he is currently occupying, at asking price, within weeks of listing it and used those proceeds in a 1031 exchange for this acquisition. My client is extremely pleased with the outcome, not only did the cost per square foot for his facility drastically drop, his building foot print and floor space efficiency increased dramatically.”
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 375 offices and 6,700 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 #00806840.
To learn more, visit www.naicapital.com
About NAI Global
Founded in 1978, NAI Global is a leading global commercial real estate services firm with more than 375 brokerage offices and over 6,700 professionals located throughout North America, Latin America, Europe and Asia Pacific. The firm manages over 380 million square feet of property on behalf of its clients, globally. The NAI Global Capital Markets Group serves the largest institutional owners of and investors in commercial real estate.
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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