Real estate investment firm Stos Partners has acquired two industrial assets totaling more than 41,000 square feet in the La Mirada and San Fernando submarkets of Los Angeles. The purchase price for both assets was $12 million.
The 22,000-square-foot La Mirada property is located on a 1.2 acre site on Firestone Boulevard. Brad Schneider and Nick Krakower of Lee & Associates represented Stos Partners in the deal. The 19,000 square foot San Fernando property is a cold storage facility located on First Street. It features an 11-foot high ceiling and an 800 AMPs electrical system. Newmark’s Andrey Mindirgasov represented Stos Partners in the transaction.
“We recognized strong potential these markets can deliver to users seeking well-located spaces with amenities that cater to their needs,” said CJ Stos, Principal of Stos Partners. “Competition for industrial space continues to grow rapidly, especially in key markets like Los Angeles.”
The firm plans on upgrading both assets with parking lot resurfacing, door renovations, LED lighting systems and mechanical improvements.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.