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Avison Young brokers $4.2 million sale of 8,460 sf industrial building in Artesia, CA

Avison Young brokers $4.2 million sale of 8,460 sf industrial building in Artesia, CA 3 Mar 2021

Los Angeles, CA Avison Young announced today it has brokered the $4.2 million sale an 8,460 square-foot industrial building situated on 1.36-acres located at 11840 Artesia Boulevard in Artesia, CA.

Avison Young’s Paul Clark, Patrick Barnes, Chris Maling and David Maling who are located in the firm’s downtown Los Angeles office, represented the seller, Prescott's Hardware & Sheet Metal Works who has occupied the building for 60 years, as well as the buyer, Los Angeles-based Artesia Pioneer LLC.

“The buyer is an owner/user that plans to occupy the entire building for its party supply business,” said Clark. “This very recognizable building has been an icon to locals for many decades and it is nice to see it will continue to be used to house a small business.”

The site features a highly visible location along Artesia Boulevard and is walking distance to Stater Bros, CVS, Walgreens, Starbucks and Dollar Tree and is a five-minute drive Cerritos Towne Center which includes tenants such as Trader Joe’s, Best Buy Petco, and Edwards Cinema, among others.

 

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.

 

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For more information:

 

  • Darcie Giacchetto, Avison Young, 949.278.6224