Closed: 214,274 SF Vernon warehouse sells for $14.5M
In May 2006 Global CRE represented the seller of 2640-2652 E 45th St, a fully leased 214,274 SF Vernon warehouse, sold for $14.5M at a 7.35% cap.
Sources
Global CRE transaction records; public sale records
$14.5M
Sale price
7.35%
Cap rate
214,274 SF
100% leased, 8.31 acres
The transaction
In May 2006, Global CRE represented the seller of 2640-2652 E 45th St, a 214,274 SF warehouse in Vernon, which sold for $14,500,000, roughly $68 per SF, at a 7.35% cap rate. The 1955 building was fully leased and sits on 8.31 acres.
- Closed: May 2006.
- Seller representation: Global CRE.
- Buyer: 2652 Building LLC.
- Cap rate: 7.35% on a fully leased building.
- Site: 8.31 acres.
Why it matters
Compared with the 3.5% cap rate on Valencia Tech Park in 2022, this trade shows how far Southern California industrial yields compressed over the following 15 years.
.png)
Stop searching, start finding.
Tell us your size, submarket and timing. We research the whole market, including off-market, and come back with options.
Buying? Get the Good Deals by email →