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February 28, 2020
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Biz Park in L.A.s South Bay Trades for Near $200/sf


A private investment entity involved in a 1031 exchange purchased a 53k sf business park in Rancho Dominguez for $10.45 mil. The deal works out to a price of $197/sf, which were told marks the highest price per square foot in the South Bay submarket for a comparable business park.

The Class A campus is located at 19500-19520 Rancho Way, south of the 91 Fwy and just west of Alameda St, within L.A.s South Bay submarket. The property was 100% leased at the time of sale.

The business park is leased to 10 tenants in a variety of industries including biotech, international manufacturing, LED lighting and import/export. It is located adjacent to the Dominguez Technology Center, the largest master planned industrial business park in the South Bay.

The asset was sold by PRG Investment & Management Inc, who acquired the property in September 2011 via a short sale transaction for $3.9 mil ($79/sf). At the time of acquisition, the business park was 80% vacant and the existing tenants were month to month.

Michael Kendall of Colliers International and Steve Bohannon of Cushman & Wakefield represented the seller in the transaction. Eric Strauss of America West Properties represented the buyer in the deal.

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