Press Release

CBRE ANNOUNCES SALE OF 37,050 SF INDUSTRIAL BUILDING IN SIMI VALLEY, CA FOR $7.3 MILLION

17 7月 2018

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CBRE announced the sale of a state-of-the-art industrial building in Simi Valley, CA for $7.3 million.

Bennett Robinson of CBRE represented the seller, Overton Moore Properties, a Los Angeles-based commercial real estate company, in the transaction. The buyer, Nadavco, LLC, a San Fernando Valley-based company that will also occupy the space, was represented by Sam Wagner of Told Partners and Chris Swatosh of Pacific Partners Commercial, Inc.

The 37,050 square-foot building is part of an industrial business campus, located at 167 W. Cochran Street, and was the last available property for sale at this location. The building features 5,000 square feet of office space, a large yard for storage, four loading docks, ample truck loading and 28-foot clearance.

“Opportunities such as this premier 8.5-acre industrial site in Ventura County do not come by often,” said Robinson. “Its accessibility to several submarkets makes it a prime location.”

Demand for Class-A industrial product in the Greater Los Angeles region is higher than ever. Industrial users have been clamoring for any and all industrial space available. As a result, year over year, lease rates increased by 3.8% in the second quarter. Besides tenant renewals, 3PLs and wholesalers related to e-commerce users aggressively acquired facilities for last mile and distribution/fulfillment purposes, further lowing vacancy. 
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 www.cbre.com.