Avison Young announces $5.5 million sale of a 32,000-sf freestanding industrial building to owner/user in Whittier, California27 Apr 2020
Los Angeles, CA – Avison Young announced today it has completed the $5.5 million sale of a 32,000 square-foot (sf) freestanding industrial building located at 8155 Bryan Road in Whittier, CA (Los Angeles County).
Avison Young Principals Chris Maling and David Maling and Associate Paul Clark, who are based in the company’s downtown Los Angeles office, represented the seller, a company who manufactured racking systems for the grocery industry and vacated the property prior to escrow. The private buyer was represented by Lee & Associates.
Built in 1974 and situated on 1.52 acres, the property includes 3,000 sf of office space, 16 parking spaces, two roll-up doors and clear heights ranging from 20 to 22 feet.
“This property went under contract before the COVID-19 pandemic and closed during the work-from-home mandate in which lenders are navigating a high volume of requests related to the Paycheck Protection Program (PPP) under the Care Act,” said Chris Maling. “While the financing process presented unique challenges, we successfully completed the closing in a timely manner and exceeded the seller’s expectations on pricing and the overall process.”
He added, “The buyer intends to use the building for his business and found it more cost effective to own with SBA financing as opposed to renting space.”
The property is near the major cross streets of Slauson Avenue, Santa Fe Springs Road and Washington Boulevard and is a short drive to the 605 freeway, which provides access to the 60, 57, and 5 freeways.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises thousands of real estate professionals in more than 100 offices around the world. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
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For more information:
• Darcie Giacchetto, Places Public Relations: 949.278.6224