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1/22/21
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A 58.3k sf warehouse in Cypress sold for $12.24 mil, or $210/sf. The building is located at 5780 Cerritos Ave, north of Katella Ave and west of Valley View St.
Built in 1990, the property is a freestanding, concrete tilt-up, warehouse with 6k sf of corporate image mezzanine office space. The building, sitting at an outstanding corner location with major street visibility on Cerritos Ave and Camden Dr, offers excellent access to the 405, 22 and 605 Freeways. The property is situated on approximately 2.64 acres of land and is parked 2.18 per 1,000 rentable square feet.
The building was leased back to the seller on a short term basis at the close of escrow. The new owner intends to use the building for their distribution business once the warehouse is vacated.
Kirk Cole with NAI Capital Commercial represented the buyer, a family trust, in the transaction. The seller, Advanex Americas Inc, was repped by Cushman & Wakefield.
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