COMPTON, CA—A private investor has purchased a 149,654-square-foot industrial property in Compton from Prudential Real Estate Investors. Located at 250 W. Apra Street in the Dominguez Hills Industrial Park, the single-story property was upgraded in 2000 with new dock doors and 2,800 square feet of office space. The sale price is undisclosed.
The buyer has experienced a recent expansion, and sought an industrial property in this market to accommodate its growth. Due to limited industrial supply in the Compton market, the buyer first entered into a lease agreement with the seller that eventually led to the purchase of the property. During escrow, the buyer occupied the property as a leased tenant. Prudential was not looking to sell the property initially, but felt the offer was too good to turn down.
The transaction included a lot-line adjustment to enhance the land configuration and improve the loading areas of the surrounding properties, which the seller also owns. The seller began the line lot adjustment prior to the purchase agreement, and the buyer saw it through.
NAI Capital brokers Warren Noack, Kimberly Noack and Travis Noack represented the buyer in the transaction. Cushman & Wakefield brokers Rooney Daschbach, Steve Bohannon and Rusty Smith represented the seller. The brokers were not available to comment on this transaction prior to publication of this story.
In addition to the tightening industrial market, Compton is also home to several affordable housing developments. Earlier this year, Meta Housing Corp. broke ground on a $20 million affordable senior housing complex for tenants 55 and older. Called Metro @ Compton, the property provides 75 affordable units to seniors in the community.