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Avison Young completes $3.3 million sale of a multi-tenant industrial building in Norwalk, CA

Avison Young completes $3.3 million sale of a multi-tenant industrial building in Norwalk, CA 21 Jan 2021

Los Angeles, CA – Avison Young announced today it has completed the $3.3 million sale of a 17,880 square-foot multi-tenant industrial building located at 13433 to 13447 Excelsior Drive in Norwalk, CA.

Avison Young’s Paul Clark, Patrick Barnes, David Maling, and Chris Maling who are located in the downtown Los Angeles office represented the seller, Los Angeles-based Samarin Investments, LLC. The buyer was an owner/user with multiple locations in Southern California.

Built in 1967 and situated on .83 acres of land, the building provides immediate access to the 5 Freeway and is within the Mid-Counties submarket in one of the largest industrial markets in the nation. The asset features four separate units each having their own restrooms, office, and ground-level loading.

“The industrial sector in Los Angeles continues to remain extremely tight with tenant and investor demand at all-time highs,” said Clark. “This asset is centrally located and proximate to the Ports of Long Beach and Los Angeles.”

Barnes added, “Avison Young was able to deliver the seller multiple offers on this asset. We selected the best offer and the buyer, who secured favorable SBA financing, plans to occupy the entire property.”

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.

www.avisonyoung.com

 

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For more information:

  • Darcie Giacchetto, Places Public Relations, 949.278.6224