Real Estate Weekly
Image default
Deals & Dealmakers

Newmark Facilitates Sale of Five-Building Industrial Park in Carson, California

Newmark announces that it has arranged the sale of Carson Business Park, a 38,152-square-foot, five-building industrial park situated on 1.9 acres in Carson, California.

Newmark Senior Managing Director Scott Schumacher and Associate Director Aaron Banks in collaboration with Co-Head, U.S. Capital Markets Kevin Shannon, Executive Managing Director Andrew Briner and Managing Director Anthony Muhlstein represented the seller, Carson Five, LLC. The buyer was Partners Capital, based in Los Angeles.

Located at 401 – 409 Gardena Blvd, the property was 100% leased at the time of sale to 16
unique tenants with a weighted average lease term of approximately 0.8 years, and in-place
rents 61% below market.

“Carson Business Park is a highly functional project that caters to a wide array of small bay
tenants in the coveted South Bay submarket.” Banks commented. “The project’s near-term mark-to-market exposure, coupled with its centralized location and proximity to infrastructure, offers an extremely compelling value proposition.”

Schumacher added, “Investor demand remains high for quality industrial multi-tenant projects in this market due to the fact that the existing inventory is extremely limited and there has been no new construction of this industrial incubator product-type over the past 20 years.”

The South Bay is one of the leading industrial submarkets in the world, boasting a vacancy rate of 1.2%, with limited land available for new industrial development. The location provides direct access to I-110 and I-405 and is proximate to the region’s primary economic engines—the Port of Los Angeles and Long Beach and Los Angeles International Airport.

Related posts

Avison Young arranges 99-year ground lease for an estimated $21.5 million

REW

Rosewood Realty Group Brokers $36.5 Million Sale of 15-Story Hells Kitchen Mixed-Use Building

REW

Miller Construction Begins Work on an 80,000-Square-Foot Build-to-Suit Industrial Warehouse in Orlando

REW