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August 13, 2020
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City of Industry Warehouse Property Trades in $38.5 Mil Sale/Leaseback


EverWest Real Estate Investors LLC acquired a 181.7k sf industrial warehouse property in the City of Industry in a sale-leaseback transaction valued at $38.5 mil. The deal included a 10-year leaseback with the property seller, Newegg Inc, a leading tech-focused e-retailer in North America.

The property sits on 8.1 acres at 17708 Rowland St in City of Industry, an industrial suburb in the San Gabriel Valley region of Los Angeles County. This high barriers-to-entry location is within a distribution hub and the San Gabriel Valley Industrial submarket. 17708 Rowland Street has easy access to the SR-60, SR-57, I-10 and I-605 Freeways and is within 35 miles of Los Angeles International Airport and Ports of Los Angeles and Long Beach.

Built in 1998, the building contains best-in-class features, including a 30-foot clear height; 26.7k sf of office space; skylights; reinforced concrete construction; ESFR sprinklers; 129-foot truck court; 26 dock doors; and two drive-in, grade-level doors. Newegg Inc. has owned and occupied the building as their corporate headquarters since September 2003.

Ryan Sitov, Mark Detmer and Bo Mills with JLL Capital Markets represented the seller in the transaction.

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