Listing Saved
Email Sent

Los Angeles Industrial, 2.86 Acres

245261 E 157th Street : Gardena, CA 90248

Los Angeles County, California

2.86 Acres
Create a FREE Land Buyer Profile or sign in. DISMISS
Expired Listing
Los Angeles Industrial, 2.86 Acres : Gardena : Los Angeles County : California

Land Description

Los Angeles Industrial with Value-Add Upside

Investment Highlights

Huge Value-Add Opportunity: The largest tenant at the property vacated at the end of October leaving the project 77% leased. A new owner will be able to quickly backfill the space and stabilize the property.

Below Market Rents: Average in-place rents are more than 30% below market, including the largest tenant at the property that is approximately 50% below market.

Extremely Tight Submarket: The South Bay is the 1 industrial submarket in Los Angeles and currently boasts a vacancy rate of just 2.1%.

Motivated Seller / Attractive Basis: The seller is motivated to transact by year-end, and the property is expected to trade at an extremely attractive basis compared to similar properties in the area.

Offering Details

Newmark and RI Marketplace are pleased to present the opportunity to acquire the fee-simple interest in 245-261 E 157th Street in Gardena, California (the “Property”). The offering consists of a 77% leased, 70,546-Square-Foot, multi-tenant, industrial project located in the highly sought-after South Bay area of Los Angeles. The Gardena submarket continues to be extremely tight and boasted a 2.1% vacancy rate as of Q3 2021.

The Property consists of two concrete-tilt industrial buildings that total 70,546 square feet and are situated on a 2.86-Acre parcel. The buildings are extremely functional and feature 19' to 22' clear heights with 15 ground level doors and two dock-high doors. The project features above average parking at a ratio of 2.3/1,000 SF, and the largest tenant at the property is 50% below market, presenting a huge amount of upside at lease expiration.

The offering presents an extremely rare, value-add opportunity for an investor to acquire a well-located, infill, industrial deal with huge upside that can be achieved by leasing up the in-place vacancy and rolling tenants to market upon lease expiration, with in-place rents more than 30% below market. The property is expected to trade at an extremely attractive basis compared to similar product that has been selling in the mid per-square-foot range, with user sales climbing closer to .

Land features, descriptions, details, directions, sales history, photos, maps, boundaries and files are deemed reliable and provided "as is" without guarantee, warranty, representation, expressed or implied by AUCTIONFLIP or its advertisers, and is subject to errors, omissions, sale or withdrawal. Buyers should exercise their own due diligence when purchasing real estate. AUCTIONFLIP is not a party to any portion of the real estate transaction between a buyer and seller on this site. Contact the seller directly regarding this listing.