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3/08/21
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An 8.5k sf industrial building situated on 1.36 acres in Artesia sold for $4.2 mil, or $494/sf. The building, located at 11840 Artesia Blvd, south of the 91 Fwy and just east of Pioneer Blvd, was purchased by Los Angeles-based Artesia Pioneer LLC.
The site features a highly visible location along Artesia Blvd and is walking distance to Stater Bros, CVS, Walgreens, Starbucks and Dollar Tree. It is just a five-minute drive to Cerritos Towne Center which includes tenants such as Trader Joe’s, Best Buy Petco, and Edwards Cinema, among others.
Avison Young’s Paul Clark, Patrick Barnes, Chris Maling and David Maling represented the buyer and the seller, Prescott's Hardware & Sheet Metal Works, who has occupied the building for 60 years.
“The buyer is an owner/user that plans to occupy the entire building for its party supply business,” said Clark. “This very recognizable building has been an icon to locals for many decades and it is nice to see it will continue to be used to house a small business.”
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