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6/29/22
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Three industrial buildings totaling 35k sf in the city of Paramount sold for $10.7 mil ($220/sf) in two transactions.
In one of the transactions, two vacant industrial buildings zoned M2 on a corner lot with a fully fenced and gated parking lot. The buildings, located at 7200 Adams St (8.8k sf) and 15330 Texaco Ave (16.9k sf), sold for $7.7 mil, or $300/sf.
The property received multiple offers above asking price. The new owner will be occupying the property for their business operations and hold it for the long term. Lucy Hartford with NAI Capital Commercial’s Investment Services Group represented the seller in the deal.
The other building, 7626 Somerset Blvd (9.3k sf) sold for $3 mil or $321/sf. The manufacturing facility was purchased by a local business to secure the property as a long-term hold. Lucy represented the buyer in an off-market transaction.
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