(Read more on the industrial market.)
LOS ANGELES-A 57,000-sf industrial building in the Los AngelesInernational Airport market has sold for $13.1 million, or $230 persf, an all-time market high price per sf for an industrial buildingof its size in the Los Angeles International Airport market,according to brokers in the deal. The property is at 5651 W. 96thSt., a quarter of a mile from LAX and across the street fromNeutrogena's world headquarters.
The buyer was Avila 8 LLC, a company in the natural gas industrythat formerly was based in Santa Monica and acquired the propertyfrom Cargo Ventures, an industrial investment and development firmbased in New York. According to Marcus Gilmour, a vice president atLeonard & Ohren, the deal is yet another example of themigration of Westside industrial companies into the LAX market.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
