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Partners Capital Purchases Norwalk Industrial Property for $16M
Industrial real estate investment firm Partners Capital, has acquired Victory Industrial Park, a 75,000-square-foot industrial park in Norwalk, CA. The property, located at the corner of Shoemaker Avenue and Tom White Way, traded for $16 million.
“There was significant interest in the property from major institutional buyers, but we were able to acquire the property at a price point that’s far below replacement cost and land value in the Mid-Counties marketplace,” said Ryan Adjnasian, Senior Acquisition Associate at Partners Capital.
Victory Industrial Park is 100% leased and has undergone significant renovation in the past four years. Partners Capital plans to complete minor cosmetic upgrades and retain the property as a legacy asset in its portfolio under a long-term hold strategy.
Cushman & Wakefield’s Lars Platt and Don Yahn represented the seller in the transaction, while Partners Capital was self-represented.
- ◦Sale/Acquisition
