LOS ANGELES, Calif. –– Cushman & Wakefield announced the firm has advised the sale of Azusa Industrial Center, a ±432,500-square-foot, three-building industrial project located in Azusa (Los Angeles), California. Built during the mid-1980s and situated on over 23.6 acres, the multi-tenant property is 100% leased and was acquired by IDS Real Estate Group for $126 million.
Cushman & Wakefield’s Jeffrey Cole, Jeff Chiate, Rick Ellison, Mike Adey, Brad Brandenburg, Matt Leupold, and Bryce Aberg of the firm’s National Industrial Investment Advisory Group in Southern California represented the seller in the transaction. Phil Lombardo and Chris Tolles with Cushman & Wakefield also provided local market leasing expertise.
“Azusa Industrial Center is a strong-performing and rare ultra-core infill industrial asset with a premier San Gabriel Valley location that is fully leased to four high quality tenants across a variety of key industries, including warehousing/distribution, logistics and food & beverage,” said Executive Vice Chairman Jeffrey Cole. “Offering a flexible range of suite sizes, the property offers a ground-zero industrial logistical location with access to Southern California’s robust freeway network and is near the I-210 Freeway with access to other notable and vital nodes of transit such as Ontario International Airport, the Ports of Los Angeles & Long Beach, and Los Angeles International Airport.”
“Additionally, the property offers access to a deep and diverse consumer and labor population of nearly 15 million residents within a 50-mile radius,” continued Cole.
Azusa Industrial Center consists of three adjacent industrial buildings located at 975-985 W Eighth St, 823-829 W Eighth St, and 875-935 W Eight St. The buildings feature ample loading, 130’-160’ truck courts, and 24’-30’ clear heights. Suite sizes range from ±40,000 sf to ±100,000 sf.
