Avison Young completes $3.3 million sale of a multi-tenant industrial building in Norwalk, CA

Los Angeles, CA – Avison Young announced today it has completed the $3.3 million sale of a 17,880 square-foot multi-tenant industrial building located at 13433 to 13447 Excelsior Drive in Norwalk, CA.

Avison Young’s Paul Clark, Patrick Barnes, David Maling, and Chris Maling who are located in the downtown Los Angeles office represented the seller, Los Angeles-based Samarin Investments, LLC. The buyer was an owner/user with multiple locations in Southern California.

Built in 1967 and situated on .83 acres of land, the building provides immediate access to the 5 Freeway and is within the Mid-Counties submarket in one of the largest industrial markets in the nation. The asset features four separate units each having their own restrooms, office, and ground-level loading.

“The industrial sector in Los Angeles continues to remain extremely tight with tenant and investor demand at all-time highs,” said Clark. “This asset is centrally located and proximate to the Ports of Long Beach and Los Angeles.”

Barnes added, “Avison Young was able to deliver the seller multiple offers on this asset. We selected the best offer and the buyer, who secured favorable SBA financing, plans to occupy the entire property.”