The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 28, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





LOS ANGELES COUNTY NEWS
Printer-friendly Version   Email an Associate
Four Industrial Facilities in the City of Commerce Sell for Combined $20 Mil

8/15/18

Karney Properties has sold four industrial buildings totaling 120.3k sf of space in the City of Commerce for a combined price of just over $20 mil ($166/sf). The facilities were acquired for warehousing needs by different companies in the garment, mattress and other general merchandise fields.

The four properties are located at the intersection of Washington Blvd and Garfield Ave in Commerce, and span the entire city block. The buildings are at: 2216 Garfield Ave (22.2k sf); 2240 Garfield Ave (39.2k sf); 2300 Garfield Ave (40.1k sf); and 2336 Garfield Ave (18.8k sf).

Each M2-zoned building sits on its own individual parcel and offers the ability to multi-tenant, load via multiple sides, and utilize rail. The properties were part of a time-sensitive reverse 1031 exchange and set record market prices for unimproved industrial properties in the Commerce submarket.

Tim Wallace, David Hess, Mike Foley, Ryan Bos, and Chuck Berger with Cushman & Wakefield represented Karney Properties in the transactions. As of second quarter 2018, vacancy in Central Los Angeles was 1.4%, according to Cushman & Wakefield research.





Return to the Archive page


 


 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media