Four Industrial Properties Trade Hands in San Gabriel Valley Totaling Over 49,000 SF and $4.8 Million Dollars
SAN GABRIEL VALLEY, CA – November 25, 2014 – (RealEstateRama) — Ryan Campbell with NAI Capital’s San Gabriel Valley East office sold and leased four properties in the San Gabriel Valley totaling over 49,000 sq. ft. and $4.8 Million dollars, all within a recent thirty day period. Rick Sheckter of Newmark Grubb Knight Frank’s City of Industry office co-brokered the three sales transactions.
Ryan Campbell notes, “We secured these listings based on our long term relationships with the owners along with our proven track record to problem solve, get maximum marketing exposure and our thorough knowledge and history of deal making in the Irwindale and Azusa market places. We have completed many transactions in the 605/210 corridor over the years and local property owners continue to look to us for our market knowledge and expertise.
On all three of the sales transactions, our marketing and negotiating efforts resulted in owner/user deals; we were able to secure and close the deals meeting critical timelines, actually closing two sales on the same day to best effectuate the Seller’s 1031 exchange timelines. Two of these buyers will be utilizing the buildings for machine shop operations and the third buyer will be warehousing general merchandise.
The property that was leased was vacant for the past year due to the buildings being older and functionally unique with a variety of other complications and restrictions. Faced with numerous challenges from the City of Azusa and renovation requirements, we were able to take a creative approach to market this property. Our efforts resulted in multiple offers and in cooperation with the broker representing the tenant; we were able to secure the deal. There were many moving parts and restrictions that were effectively negotiated through, resulting in a 5 year lease with options to extend. The Lessee assumed all tenant improvement responsibilities. This was a true win-win situation for all parties, and this location is slated to become the central hub for their asphalt/striping operations in the region.”
The four (4) transactions include:
IRWINDALE: Represented the seller, Tifal Properties LLC, in the sale of an 11,450 sq. ft. industrial property located at 2399 Miguel Miranda Street to the buyer, C & Y Investments LLC. The value of the sales transaction was $1.75 Million.
AZUSA: – Represented the seller, Basha Bros Two, in the sale of a 14,000 sq. ft. industrial property located at 1031 West Kirkwall Road to the buyer, JAR Machine and Fabrication. The value of the sale transaction was $1.6 Million.
IRWINDALE: Represented the seller, Jordan Trust, in the sale of a 7,488 sq. ft. industrial property located at 15777 Ornelas Street to the buyer, Sullivan Construction. The value of the sales transaction was $1 Million.
AZUSA: Represented the landlord, Hill Brook LLC, in the lease of a 16,200 sq. ft. industrial building located at 975 West 1st Street to the tenant, PCI, Inc. The value of the lease transaction was $489,110.00.
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 in 55 countries 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. To learn more, visit www.naicapital.com NAI Capital Brokerage BRE #00806840.
Contact: Sharon Fitzgerald, Public Relations, 818.742.1655 and
Blog Post: http://ublog.naiglobal.com/naicapital/2014/11/24/four-industrial-properties-trade-hands-in-san-gabriel-valley-totaling-over-49000-sf-and-4-8-million-dollars/
Sharon Fitzgerald
P.R. & Advertising
NAI Capital, Inc.
16001 Ventura Blvd., 2nd Floor
Encino, CA 91436
Office: (818) 905 2400 x 155
Direct: (818) 742-1655
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www.naicapital.com
