South Bay Asset Trades at Record Price
The Laurel Park Commerce Center sells for $200 per square foot, the highest price in the South Bay market.
The property is located on 3.6 acres and was built in 1986. It offers plenty of upside with 80% of the property vacant and all current tenants on month-to-month leases.
Michael Kendall and Gian Bruno of Colliers International and Steve Bohannon of Cushman & Wakefield represented PRG in the transaction. Eric Strauss of America West Properties represented the 1031 exchange buyer.