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April 21, 2018
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Oxnard Industrial Building Trades in $11.75 Mil Deal


Goodrich Hazlet LLC purchased a 92k sf industrial building in Oxnard for $11.75 mil ($128/sf). The building, located at 2100 Eastman Ave, south of the 101 Fwy between Rice and Rose Avenues, is currently 100% occupied by Quaker Sales & Distribution, Inc., one of the world’s leading food and beverage companies.

The property was sold by BLT Enterprises, which initially acquired the industrial building in 2001. During its 15-year hold period, Santa Monica-based BLT was able to significantly increase the value of the property through a series of capital improvements and strategic leasing.

Quaker Sales & Distribution, a wholly owned subsidiary of PepsiCo Inc, has occupied the building since 2012. Paul Farry at CBRE represented both the buyer and the seller in the transaction.

Oxnard is located in Ventura County, where vacancies have remained below 4% throughout 2016. In addition, Ventura County has demonstrated strong economic growth with sale prices continuing to increase.

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