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4/27/20
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A 32k sf, freestanding industrial building in Whittier was acquired by a private investor for $5.5 mil, or $172/sf. The asset was sold by a company that manufactured racking systems for the grocery industry and vacated the property prior to escrow.
The building is located at 8155 Bryan Rd, near the major cross streets of Slauson Ave, Santa Fe Springs Rd and Washington Blvd. It is a short drive to the 605 Fwy, which provides access to the 60, 57, and 5 freeways.
Built in 1974 and situated on 1.52 acres, the property includes 3k sf of office space, 16 parking spaces, two roll-up doors and clear heights ranging from 20 to 22 feet. The buyer intends to use the building for his business and found it more cost effective to own with SBA financing as opposed to renting space.
Chris Maling, David Maling and Paul Clark with Avison Young represented the seller in the deal. The buyer was repped by Lee & Associates. According to Chris Maling, the property went under contract before the COVID-19 pandemic and closed during the work-from-home mandate in which lenders are navigating a high volume of requests related to the Paycheck Protection Program (PPP) under the Care Act.
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