| Los Angeles, CA - NAI Capital Executive Managing Director Ryan Campbell, SIOR represented the buyer, a private investor, in the purchase of a two-building warehouse property totalling 37,800 SF in San Dimas, Calif. The seller was Farmers and Merchants Trust Company of Long Beach. The total sale price was $4,158,000 or $110 per square foot.
The sale included two multi-tenant buildings located at 712-722 West Cienega Avenue. Each building is a free standing industrial warehouse facility situated on a total of 2.8 acres. 712 West Cienega Avenue is 8,800 square feet, divisible into three units. 722 West Cienega Avenue totals 29,000 square feet and is also divided into three units. The property has a fenced yard and ample parking. It has great visibility from the street and freeway with excellent access to the 57 Freeway. At the time of the sale the project was 60% leased. Campbell said, “This is an excellent, well located warehouse property. The inventory of well-located industrial product remains scarce, my client was excited to add this to their portfolio." |
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