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July 14, 2024
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Xebec Realty Partners Closes $24 Mil Land Buy in the San Fernando Valley


Xebec Realty Partners paid $24 mil for a 6.14-acre redevelopment opportunity in the northeastern San Fernando Valley community of Sylmar.

The property, located at 12975 Bradley Ave, is currently improved with a 104.9k sf industrial building, which will be torn down in favor of a new modern high-bay Class A industrial building. The property is zoned M2, permitting a wide range of uses by right including wholesale, storage, limited commercial and manufacturing, and media products.

12975 Bradley Ave is situated at the confluence of the I-5, I-405 and I-210 Freeways, providing easy access to numerous logistics and transportation hubs. The property is 45 miles from the Ports of Los Angeles and Long Beach, 30 miles from Los Angeles International Airport, 13 miles from Burbank Airport and 25 miles from Downtown Los Angeles. With a population of 3.6 million people within a 20-mile radius, the property is an ideal location for logistics and e-commerce tenants seeking to meet the ever-growing demand for last-mile delivery.

John DeGrinis, Patrick DuRoss and Jeff Abraham with Newmark represented the buyer and the seller, Howmet Aerospace Inc.

“The North Los Angeles industrial market is one of the healthiest submarkets in the nation with tight barriers to entry,” said DeGrinis. “This property is ideally located to meet the growing last-mile demand within Los Angeles and easily serve the 2.1 million people that live within a 15-mile radius.”

According to Newmark Research, the Los Angeles industrial market totals 1.05 bil sf and has the second-lowest industrial vacancy rate in the U.S., at 1.2% as of the third quarter. Its vacancy rate has remained below 3.0% for 38 consecutive quarters. During the third quarter of 2021, quarterly net absorption totaled 3.4 msf, exceeding new construction deliveries by 131%. The Los Angeles North market is poised to lead absorption gains during the fourth quarter, as Amazon completes tenant improvement work on its new 1.5 msf Oxnard facility.

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