Gardena Sale Shows Insatiable Appetite for Large-Scale Infill Industrial Sites

A 10.8-acre site with six leased industrial/flex buildings totaling 261,950 square feet of improvements was recently acquired by Overton Moore Properties for $35.1 million. Located at 1600 W. 135th St. in Gardena, CA, the property is situated within the South Bay submarket and fully leased to an undisclosed aerospace tenant.

The seller was SGL Global. A Cushman & Wakefield team led by Mike Condon Jr. and his partners Erica Finck, Bailey Dawson, Brittany Winn and McKenna Gaskill represented the seller.

Following the closing, Overton Moore Properties will be marketing the entire existing 261,950-square-foot facility for lease, an assignment being led by Condon, Winn and Gaskill. Pending the outcome of that leasing effort, the new ownership may process entitlements for the new development of two class-A industrial manufacturing buildings of 200,000 square feet and 42,000 square feet, which would supplant the existing structures on the site.

“The sale of the Gardena campus shows the continued and insatiable appetite from investors to acquire large-scale infill industrial sites, most specifically in the South Bay submarket,” says Condon.