Los Angeles Industrial Asset Sells for $61M
- Jan 30, 2020
A client of BentallGreenOak paid $61 million for a 230,247-square-foot, single-tenant warehouse in City of Industry, Calif.
According to Yardi Matrix data, the seller is Jacmar Foodservice Distribution, which built the facility and used it both as a distribution center and its Southern California headquarters. The company will remain the property’s sole tenant, having already signed a 10-year lease.
CBRE’s Cameron Merrill represented Jacmar in the sale-leaseback deal.
Situated at 300 N. Baldwin Park Blvd. on more than 10 acres, the 2015-completed facility includes a two-story office component. The Class A warehouse features 32-foot clear height, 2 grade level and 30 dock high doors, as well as 6 million cubic feet of multi-temperature storage with six different temperature zones. The industrial property is some 16 miles west of downtown Los Angeles near interstates 605 and 10.
In December, another City of Industry warehouse traded for $38.5 million approximately 8 miles southeast of the Baldwin Park Boulevard property. EverWest Real Estate Investors purchased the Class A, 181,730-square-foot asset, also in a sale-leaseback transaction.