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8/02/22
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The owners of Royal Stone Properties in Los Angeles acquired two neighboring, contiguous parcels totaling 24.4k sf located at 2301 S. Sepulveda Blvd and 2318 S. Pontius Ave. The properties, which include a 12.8k sf building, fetched $11.1 mil.
The buyer intends to use the acquisition for expansion of its marble and tile slab yard business, in the midst of high demand for custom home building materials.
Situated just one block from the 405 freeway on-ramp as well as the Expo/Sepulveda Metro station, the property serves as a favorable transit-oriented location for development. The site lies within several blocks of Sawtelle’s Japantown and just minutes from Google’s future Los Angeles headquarters.
Lee Shapiro with Kennedy Wilson Brokerage represented the seller, S & E Hansen Corp and Sylvan Hansen LLC.
“With the scarcity of urban infill industrial property available for sale coupled with vacancy rates at an all-time low, users face stiff competition for prime real estate,” said Shapiro. “The buyer in this case has acquired an asset to suit their immediate business needs with the added value of future development potential.” Located in a hybrid industrial zone, and within the Exposition Corridor Transit Plan, the parcels offer flexible development options for various commercial uses.
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