Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HAWTHORNE, CA-The sale of a 68,072-sf industrial business park here for $4.6 million illustrates the migration of users into the Los Angeles International Airport area market from West Los Angeles and other nearby industrial neighborhoods, according to the broker for the seller.

Britten C. Shuford of Leonard & Ohren Commercial, who represented seller First Industrial Realty Trust of Chicago, tells GlobeSt.com that the property attracted very strong interest from 1031 Exchange buyers, but the most serious demand came from local private investors and syndicators. The property that changed hands was Century-105 Business Center at El Segundo Boulevard and Yukon Avenue. First Industrial sold it to privately held NSB Associates Inc. of Los Angeles, which was represented by Brad Levin of the South Bay office of GVA Daum.

The business park, composed of 13 units ranging from 2,160 to 10,400 sf, was 97% leased at the time of the sale. The three-building project is of brick construction, offering an average of 15% office build-out and ground level loading. Shuford tells GlobeSt.com that the Century-105 Business Center deal is part of a migration of non-entertainment related industrial companies south into the LAX marketplace. Buyers are migrating into the LAX market from West Los Angeles because of the gradual obsolescence of industrial space in West Los Angeles, Shuford says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.