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7/06/18
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A 4.95-acre industrial site in Arcadia was acquired C.E.G. Construction, a local investor/developer for $10.5 mil. Located at 11621-11633 Clark St, west of the 605 Fwy about midway between the 10 and 210 Freeways.
The site includes approximately 31.4k sf of office and industrial space across four multi-tenant buildings and three acres of paved and secured yard area. The property has easy access to the 210, 605, and 10 freeways and sits in a dense infill market in the San Gabriel Valley, a sub-region within Greater Los Angeles, the most sought-after investment market in the country.
CBRE’s Anthony DeLorenzo, Mark Shaffer, Gary Stache, and Doug Mack represented the buyer in the deal. The CBRE team also represented the seller, Grey Light LLC, in the transaction.
“Demand for industrial properties is at an all-time high with incredible interest from developers, REITs, and 1031-exchange investors,” said DeLorenzo. “The unique property size is a big advantage given the limited supply of industrial-zoned land in the San Gabriel Valley.”
Driven by record-low vacancies and ever-increasing demand for warehouses and industrial sites, the San Gabriel Valley development pipeline delivered more than 3.4 msf of new construction during Q1 2018, while 2.4 msf remains in the development phase.
“The San Gabriel Valley is an ideal area for companies that want to offer employees a quality lifestyle without sacrificing business and logistical needs,” said Shaffer. “This area attracts big-box, distribution-type tenants, as well as small to mid-sized entrepreneurial manufacturers.”
Arcadia, an upper-middle class community of approximately 60,000 people, sits within a region that has been experiencing increasing industrial and retail demand, growing e-commerce activity and strong user interest, Shaffer added.
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