|
|
5/09/25
|
Watercress Holdings purchased a 60.5k sf industrial property located at 28212-28230 Constellation Rd in Valencia for $13.58 mil, or about $225/sf. At the time of sale, approximately 23k sf of the building was vacant, while the remaining space is occupied by long-term tenants SCP Pool and Scooter’s Jungle.
Watercress Holdings plans to make significant investments in the property, which are already underway, including upgrades to the exterior, roof, common areas, and a complete remodel of the vacant unit. The planned renovations will enhance both the common areas and the 23k sf vacant unit.
CBRE’s Sam Glendon represented the seller, 28230 Constellation LLC, in the transaction.
“Despite regional challenges in the industrial sector, the LA North industrial market has demonstrated remarkable resilience,” said Glendon. “With a vacancy rate of just 2.3%, it remains one of the healthiest markets in the nation.”
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
