The 105,000-sf Shoemaker Business Park is located at 14928-14948 Shoemaker Ave and is right off the 5 freeway. The price per square foot on the deal figures to be around $55. The capitalization rate on the deal measured about 9.5%, and occupancy levels were at 95% at the time of the transaction.
The property was built in 1978, and last year the seller redid the asphalt and painted the buildings. The new owner plans no renovations. The seven ground-level industrial buildings are made up primarily of warehousing space and sit on 5.23 acres. The multi-tenant incubator space ranges from 1,900 sf to 12,300 sf.
The Shoemaker Business Park has a diverse base of light industrial users, including light assembly, warehouse, service and sales operations. Among the projects offerings are flexible unit sizes, large grade level doors, on-site parking and truck access.
The city of Santa Fe Springs has over 3,500 businesses. The project has immediate access to the Santa Ana (5) freeway and is approximately 21 miles from Los Angeles International airport, 23 miles from Orange County's John Wayne airport and 13 miles north of the ports of Long Beach and Los Angeles.
Chuck Wilson of Colliers Seeley International's Anaheim, Calif., office, and Mike Hefner of Voit Commercial Brokerage's Anaheim, Calif., office, co-listed the property and represented both the buyer and the seller.
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