Closed: 296,960 SF City of Industry warehouse, $15.3M
In May 2010 Global CRE represented the seller of 550 S 7th Ave, a fully leased 296,960 SF City of Industry warehouse that sold for $15,300,000.
Sources
Global CRE transaction records; public sale records
$15.3M
Sale price
296,960 SF
100% leased
16.61 AC
Land area
The transaction
In May 2010, Global CRE represented the seller of 550 S 7th Ave, a 296,960 SF warehouse in City of Industry, which sold for $15,300,000, roughly $52 per SF. The property was 100% leased and sits on 16.61 acres in the San Gabriel Valley.
- Closed: May 2010.
- Seller representation: Global CRE.
- Buyer: 500 South 7th Ave LLC.
- Building: 296,960 SF, built 1967, fully leased.
- Site: 16.61 acres.
Why it matters
Large-footprint warehouses on this much land are the backbone of City of Industry's distribution base. The low basis on a fully leased asset shows how pricing looked when the market was coming out of the 2008-2010 downturn.
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