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10/16/23
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A 43.5k sf warehouse property in Compton was purchased by a private investor in a $16 mil ($368/sf) transaction. The property is located at 1303 West Walnut Pkwy, east of Central Ave and just north of the 91 Fwy.
The property sits on 1.8 acres within a highly active industrial hub, and is located just 20 minutes from LAX, and 30 minutes from the Ports of Long Beach and Los Angeles. There are two drive-in loading areas and six dock-high doors with ample turning radius for 53-foot truck loading. The site has 93 parking spaces and a fenced yard. New ownership plans to meet the needs of today’s last mile logistics users by removing the excess mezzanine office space and implementing extensive renovations to reduce and modernize the onsite office footprint.
Anthony Bergeman, SIOR, with DAUM Commercial Real Estate Services represented the buyer in the deal. The seller was repped by Jeff Smart and Elizabeth Capati of Colliers.
Though overall vacancy rates have increased since record lows in 2022, industrial asset vacancies in the South Bay area are still less than 4% in the Carson, Rancho Domiguez, and Compton subsections. Last-mile access to large populations continues to drive investor demand for well-located industrial space. According to Prologis research, e-commerce’s total share of consumer spending is expected to increase to 25% by 2025, which will continue to drive demand for warehouse space as e-commerce requires three times the logistics space compared to brick-and-mortar retail.
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