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September 20, 2019
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SOUTHERN CALIFORNIA NEWS
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Prologis Pays $41 Mil for 11-Acre Site in Commerce

8/16/19

Prologis has purchased an 85k sf industrial facility set on 11.24 acres in Commerce for $41 mil. The property is located at 2420 Yates Ave, close to a densely populated area.

Kidder Mathews commercial real estate brokers, Jon Reno, SIOR, CCIM, Trevor Gale, SIOR, Mark Vanis, and Connor Ulf, represented Prologis in the transaction. According to Kidder Mathew, it is rare for low coverage sites of this size to become available in this market.

“The site at Yates Avenue is an exceptional find and we worked quickly with Prologis to capitalize on this off-market transaction,” said Reno.

“With the vacancy rate at 2% in the central submarket, demand is strong for high-quality industrial real estate. Located minutes from downtown Los Angeles, the site at Yates Avenue provides immediate access to Interstate 5, the 710 Freeway, and the highly dense urban core. In addition, it offers long-term opportunities for flexible building design and multiple uses,” said Darren Kenney, vice president and investment officer, Prologis.





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