The Greater Los Angeles area has seen a number of industrial assets trade in recent months, and another Moorpark property could soon join the list after it was recently placed up for sale. According to a marketing brochure from Lee & Associates, a 115,538 square foot industrial building is listed for sale with an asking price set at $21.37 million, or approximately $185 per square foot.
Located at 200 Science Drive on nearly eight acres, the property is marketed by Lee & Associates’ Mike Tingus and Grant Fulkerson on behalf of ownership, an entity linked to Nearon Enterprises, according to public records.
The building is occupied by a singular tenant, Tempe, Ariz.-based Benchmark Electronics. The marketing brochure indicates that the lease is set to run through March of 2025.
While primarily an industrial property, the building also offers about 25,190 square feet of office space and parking for 379 vehicles. The building also has two loading docks and a 12,290 square foot mezzanine.
The property is situated just off California State Route 118 and is also within close proximity of various retail amenities, such as Target, In-N-Out, Del Taco, Dick’s Sporting Goods and more.
The surrounding area is also home to other industrial properties, some of which have recently traded hands.
Earlier this month, The Registry covered two industrial sales within Moorpark. The first sale was for 5456 Endeavour Court, a 22,000 square foot industrial building. That property sold for $6.7 million, or about $304 per square foot. The second property, located at 14399 Princeton Ave., totals 46,000 square feet and sold for $13.7 million, or about $298 per square foot. Michele Bolour of Apollo Asset Management acquired the first asset, while the second property was purchased by Hugh Cassar, the owner of distribution company Kretek International.
