1355-1361 W. one hundred and ninetieth St. Picture courtesy of DAUM Industrial Actual Property
Dunbar Actual Property Holdings has acquired a 92,640-square-foot industrial park in Gardena, Calif. The Altemus Co. offered the net-leased asset in an off-market transaction by way of its affiliate, T.A. Properties Ltd., for $22.7 million.
DAUM Industrial Actual Property Govt Vice President & Principal Chuck Brill represented the customer. The Altemus Co. was self-represented within the deal.
Accomplished in 1971, the two-building property occupies 3.7 acres and options 18- and 19-foot clear heights, fireplace sprinklers, dock-high loading doorways, non-public safety fenced yards and grade-level parking. The tenant roster contains AutoZone, 3 Day Swimsuit Dealer, Off Broadway West and 4 Wheel Components, all on long-term, below-market leases.
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The power is situated at 1355 and 1361 W. one hundred and ninetieth St., adjoining to Interstate 405 and roughly 14 miles from the ports of Lengthy Seashore and Los Angeles. The property has 400 ft of freeway frontage and 500 ft of fundamental avenue frontage alongside one hundred and ninetieth Road. The encircling space contains different industrial customers, resembling Syncreon, Mitsubishi Logistics, Sunrider Worldwide, Cosmo Distributing and Amazon.
Transactions declined within the fourth quarter
A DAUM industrial report on the West/South Los Angeles market reveals that gross sales quantity totaled $670.6 million within the fourth quarter of 2022, a decline of 37.1 p.c from a record-breaking third quarter. Brill said in ready remarks that the DAUM crew managed to lock in a low buy worth for this transaction in a market that had slower exercise throughout this time, but in addition within the context of the brand new ‘Mansion Tax’ that can turn into efficient midway by way of the escrow interval.
In January, Rexford Industrial Realty Inc. paid $198.1 million for a five-property portfolio of 518,931 sq. ft, with property situated in Southern California’s South Bay and Inland Empire-West submarkets. One other vital deal happened again in October 2022 when Nuveen Actual Property bought La Miranda Heart, a 337,125-square-foot industrial campus for $151.2 million, in Miranda, Calif.
