EverWest Buys Los Angeles Warehouse for $39M
- Dec 19, 2019
Newegg Inc. has sold 17708 Rowland Street, a Class A, 181,730-square-foot industrial property in the Los Angeles suburb City of Industry, Calif. EverWest Real Estate Investors purchased the asset for $38.5 million in a sale-leaseback transaction. JLL marketed the property and negotiated the deal on behalf of the seller.
Completed in 1998, the warehouse features a 30-foot clear height, 129-foot truck court, 26 dock doors and two drive-in doors. The property also includes a two-story office component totaling 26,654 square feet. Newegg has owned and used the building as a corporate headquarters since 2003 and will occupy it for 10 more years.
The industrial asset sits on 8.1 acres at 17708 Rowland St. in the San Gabriel Valley submarket. Located within a distribution hub, the property is near Pomona Freeway, 6 miles south of Interstate 10.
JLL Senior Vice President Ryan Sitov, along with Executive Managing Directors Mark Detmer and Bo Mills, led the Capital Markets team representing the seller in the deal. In April, the same brokerage team was instrumental in the $97.8 million sale of an 806,322-square-foot Class A distribution center in San Bernardino, Calif.