Press Release


03 Jul 2018

CBRE announced the sale of a 4.95-acre industrial site in Arcadia, CA to C.E.G. Construction, a local investor/developer for $10.5 million.

CBRE’s Anthony DeLorenzo, Mark Shaffer, Gary Stache, and Doug Mack represented the buyer, C.E.G. Construction.

Located at 11621-11633 Clark Street, the site includes approximately 31,400 square feet of office and industrial space across four multi-tenant buildings and three acres of paved and secured yard area.

“Demand for industrial properties is at an all-time high with incredible interest from developers, REITs, and 1031-exchange investors,” said DeLorenzo. “The unique property size is a big advantage given the limited supply of industrial-zoned land in the San Gabriel Valley.”

The property has easy access to the 210, 605, and 10 freeways and sits in a dense infill market in the San Gabriel Valley, a sub-region within Greater Los Angeles, the most sought-after investment market in the country.

The CBRE team also represented the seller, Grey Light LLC, in the transaction.

Driven by record-low vacancies and ever-increasing demand for warehouses and industrial sites, the San Gabriel Valley development pipeline delivered more than 3.4 million square-feet of new construction during Q1 2018, while 2.4 remains in the development phase.

“The San Gabriel Valley is an ideal area for companies that want to offer employees a quality lifestyle without sacrificing business and logistical needs,” said Shaffer. “This area attracts bigbox, distribution-type tenants, as well as small to mid-sized entrepreneurial manufacturers.”

Arcadia, an upper-middle class community of approximately 60,000 people, sits within a region that has been experiencing increasing industrial and retail demand, growing ecommerce activity and strong user interest, Shaffer added.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at