Another Industrial Parcel Sells in Hot I.E. Market: $14M

At the edge of San Gabriel Valley, Temple City, Calif., is technically a submarket of Los Angeles. A recent $13.78 million sale of a 64,109-square-foot industrial asset can be added to the “hot list” of bought/sold properties in the I.E. DAUM Commercial Real Estate Services completed the sale, according to a news release.

The buyer, Dunleer, was able to capitalize on skyrocketing demand for space in the submarket and sell for 130 percent of the purchase price on these 2.64 acres within just four months of ownership.

The above fact comes from Jordan Lara, an Executive Vice President at DAUM Commercial and member of LARA Team, who represented the seller in the transaction. Lara adds this factual nugget, as well, according to DAUM’s recent research:

Lara adds that the property is exceptionally located in the highly in-demand San Gabriel Valley submarket, which saw record-low vacancies in Q4 2021 at 1.2%, in addition to 41.6% and 26.1% increases in sale volume and sale prices, respectively, over Q3 … .