CBRE Brokers $11M CA Industrial Sale
- Jul 06, 2018
CBRE has arranged the sale of a 4.9-acre industrial site in Arcadia, Calif. C.E.G Construction—a local investor and developer—acquired the asset for $10.5 million.
Located at 11621-11633 Clark St., in the San Gabriel Valley, the property offers convenient access to the 210, 605 and 10 freeways. Built in 1986, the four-building site consists of approximately 31,400 square feet of industrial and office space. Additionally, 3 acres of paved and secured yard area is available.
Anthony DeLorenzo, Mark Shaffer, Gary Stache and Doug Mack were part of the team that represented the buyer. CBRE also worked on behalf of the seller, Grey Light LLC. In another recent deal, the company represented Adrenaline in a 22,200-square-foot office lease in Atlanta’s Buckhead submarket.
“Demand for industrial properties is at an all-time high with incredible interest from developers, REITs and 1031-exchange investors,” DeLorenzo said in a prepared statement. “The unique property size is a big advantage given the limited supply of industrial-zoned land in the San Gabriel Valley.”
Image via Google Maps