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1/15/14
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Naturally Aged Flooring bought a 38.7k sf industrial facility in Simi Valley for $4 mil ($103/sf). The building is located at 2175 Agate Ct, west of 1st St between Los Angeles Ave the 118 Fwy.
Constructed in 1988, the building offers four dock-high loading doors, 24-foot ceilings in the warehouse, ample parking, immediate access to the 118 Fwy, and is divided into two units. The buyer will use one unit for its flooring company, while the other unit will continue to be leased to a separate tenant.
Patrick DuRoss, John DeGrinis and Jeff Abraham of Colliers International represented the buyer and the seller, Agate Court II LLC, in the transaction.
“Naturally Aged Flooring was looking for a building to purchase for its growing business,” said Colliers Associate Vice President Patrick DuRoss. “They were quickly outgrowing their existing building and needed to find a larger facility with ample dock-high loading and clear height.”
“At the time, we were marketing half of the Agate property for lease, but the owners said they would consider a sale,” said DeGrinnis. “Naturally Aged Flooring utilized SBA financing to buy a building larger than what they needed, but with in-place income on half of the building it was a smart business decision.”
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