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October 23, 2018
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Owner/User Pays $197/sf for Simi Valley Industrial Facility

7/27/18

A 37.1k sf, state-of-the-art industrial building in Simi Valley sold for $7.3 mil ($197/sf). The building is part of an industrial business campus, located at 167 W. Cochran St, and was the last available property for sale at this location.

The building features 5k sf of office space, a large yard for storage, four loading docks, ample truck loading and 28-foot clearance. It was purchased by Nadavco LLC, a San Fernando Valley-based company that will also occupy the space,

Bennett Robinson of CBRE represented the seller, Overton Moore Properties, a Los Angeles-based commercial real estate company, in the transaction. The buyer was repped by Sam Wagner of Told Partners and Chris Swatosh of Pacific Partners Commercial Inc.

Demand for Class A industrial product in the Greater Los Angeles region is higher than ever. Industrial users have been clamoring for any and all industrial space available. As a result, year over year, lease rates increased by 3.8% in the second quarter, according to CBRE. Besides tenant renewals, 3PLs and wholesalers related to e-commerce users aggressively acquired facilities for last mile and distribution/fulfillment purposes, further lowing vacancy.






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