245-261 E 157th Street, Gardena, CA 90248
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 $200 per-square-foot range, with user sales climbing closer to $300/SF.
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.
You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
c/o Fisher Auction Company Inc.