CBRE announced the sale of a 4.95-acre industrial site in Arcadia, CA to C.E.G. Construction, a local investor/developer for $10.5 million.
CBRE’s Anthony DeLorenzo, Mark Shaffer, Gary Stache, and Doug Mack represented the buyer, C.E.G. Construction.
Located at 11621-11633 Clark Street, the site includes approximately 31,400 square feet of office and industrial space across four multi-tenant buildings and three acres of paved and secured yard area.
“Demand for industrial properties is at an all-time high with incredible interest from developers, REITs, and 1031-exchange investors,” said DeLorenzo. “The unique property size is a big advantage given the limited supply of industrial-zoned land in the San Gabriel Valley.”
The property has easy access to the 210, 605, and 10 freeways and sits in a dense infill market in the San Gabriel Valley, a sub-region within Greater Los Angeles, the most sought-after investment market in the country.
The CBRE team also represented the seller, Grey Light LLC, in the transaction.
Driven by record-low vacancies and ever-increasing demand for warehouses and industrial sites, the San Gabriel Valley development pipeline delivered more than 3.4 million square-feet of new construction during Q1 2018, while 2.4 remains in the development phase.
“The San Gabriel Valley is an ideal area for companies that want to offer employees a quality lifestyle without sacrificing business and logistical needs,” said Shaffer. “This area attracts bigbox, distribution-type tenants, as well as small to mid-sized entrepreneurial manufacturers.”
Arcadia, an upper-middle class community of approximately 60,000 people, sits within a region that has been experiencing increasing industrial and retail demand, growing ecommerce activity and strong user interest, Shaffer added.
CBRE’s Anthony DeLorenzo, Mark Shaffer, Gary Stache, and Doug Mack represented the buyer, C.E.G. Construction.
Located at 11621-11633 Clark Street, the site includes approximately 31,400 square feet of office and industrial space across four multi-tenant buildings and three acres of paved and secured yard area.
“Demand for industrial properties is at an all-time high with incredible interest from developers, REITs, and 1031-exchange investors,” said DeLorenzo. “The unique property size is a big advantage given the limited supply of industrial-zoned land in the San Gabriel Valley.”
The property has easy access to the 210, 605, and 10 freeways and sits in a dense infill market in the San Gabriel Valley, a sub-region within Greater Los Angeles, the most sought-after investment market in the country.
The CBRE team also represented the seller, Grey Light LLC, in the transaction.
Driven by record-low vacancies and ever-increasing demand for warehouses and industrial sites, the San Gabriel Valley development pipeline delivered more than 3.4 million square-feet of new construction during Q1 2018, while 2.4 remains in the development phase.
“The San Gabriel Valley is an ideal area for companies that want to offer employees a quality lifestyle without sacrificing business and logistical needs,” said Shaffer. “This area attracts bigbox, distribution-type tenants, as well as small to mid-sized entrepreneurial manufacturers.”
Arcadia, an upper-middle class community of approximately 60,000 people, sits within a region that has been experiencing increasing industrial and retail demand, growing ecommerce activity and strong user interest, Shaffer added.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
