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9/26/22
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A 182.3k sf industrial building in Pomona, CA was acquired by Denver-based EverWest Advisors for $45.9 mil ($252/sf). The facility is situated on 8.48 acres of land at 159 North San Antonio Ave and is 100% occupied by an in-place tenant, credit-backed manufacturing and distribution company.
Amenities at the rail-served property include 18 dock- and 12 grade-level doors, 19’ to 21’-high ceilings, 7.2k sf of office space, 82 parking spaces, two street entrances, and convenient access to nearby shipping ports and airports to facilitate distribution processes.
The seller, Stos Partners, was self-represented in the transaction. Jeffrey Cole, Jeffrey Chiate, Bryce Aberg, Brad Brandenburg, Mike Adey, and Zachary Harman of Cushman & Wakefield repped the buyer.
Demand for well-situated industrial space in the market has skyrocketed since 2021, with warehouse properties commanding a 63.1% higher sales price point in Q2 compared to the previous quarter.
“This quarter, we have seen vacancy levels an all-time low in Los Angeles,” notes Tanner Jansen, Vice President of Acquisitions at Stos Partners. “At a vacancy rate of 0.9%, the second lowest in the U.S., Los Angeles continues to appeal to both users and owners. This asset offers the buyer immediate cash flow and long-term value creation opportunities over the next several years.”
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