The new Side Yard asset is an industrial warehouse/showroom building located at 26455 Ruether Ave. The highly improved building was completely renovated in 2005 and converted from an industrial manufacturing facility to a retail furniture showroom/warehouse. Renovations to the building included a new roof with skylights and insulation, new air conditioning, showroom lighting and electrical, retail entryway, executive offices, design center, concrete parking, loading area and more.
Jackson notes that Side Yard plans to lease the facility back to a company it owns. The property was previously leased by Racer's Edge, the largest indoor electric Go-Kart track in Southern California, but the tenant vacated the property at the close of escrow. The seller, a private family trust was represented by Gary Cohen of Cohen Commercial Real Estate Group Inc.
In the Los Angeles transaction, a private investor bought a 96,000-square-foot building at 840 Santee St. that was constructed in 1926 and renovated in 1930. The listing agents for the property were Jerry Wise, Adam Petriella and Tony Azzi, investment specialists in the West Los Angeles office of Marcus & Millichap. Azzi also represented the buyer, who acquired the property from a financial institution.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.