Daum Commercial Real Estate Services represented Rusher Air Conditioning in its acquisition of a 16,680-square-foot industrial building in Lawndale for $5.52 million.
Michael Collins and Dustin Hullinger of Daum’s Capital Markets Group represented the buyer in the transaction. Brian Held of CBRE Group Inc.’s South Bay office represented the seller, the Sendy Hartwell Trust.
“Rusher Air, a preeminent Southern California company that has been in existence for more than 75 years, was looking to expand from its 10,000-square-foot facility in Torrance, California to a larger, more efficient headquarters,” Collins said in a statement. “Our team worked throughout 2022 to source an ideal building in an excellent location in Lawndale that more than suits their needs. We were also successful in assisting the buyer in facilitating a ‘reverse’ exchange and solidifying a loan with favorable terms.”
Constructed in 1967, the 16,680-square-foot building — located at 4435 W. 153rd St. — features a gated concrete yard. Its central location offers immediate access to multiple freeways and ample space for efficient operation and long-term growth potential.
According to a Daum report, Lawndale’s industrial market direct vacancy remains extremely tight at 1.9% as of the third quarter. Sales prices rose 11.1% and deal volume increased 73.8% during the quarter, demonstrating investors’ robust interest in this market, Collins said.
In addition to directing the purchase of Rusher Air’s new headquarters, Daum is marketing the buyer’s previous headquarter property on Normandie Avenue in Torrance, just south of the 405.
GARDENA, CALIF. — El Segundo, Calif.-based Dunbar Real Estate Holdings LLC has acquired two freestanding retail and industrial buildings from T.A. Properties LTD for $22.7 million in an off-market transaction. The buildings are located at 1355-1361 W. 190th St. in Gardena.
AutoZone, 3 Day Suit Broker, Off Broadway West and 4 Wheel Parts are tenants at the 92,640-square-foot asset. The property consists of two concrete tilt-up buildings situated on 3.7 acres. The buildings offer 18-foot and 19-foot clear heights, fire sprinklers, dock-high loading doors, private security fenced yards and ample grade-level parking.
Chuck Brill of DAUM Commercial represented the buyer, while The Altemus Co. represented the seller in the deal.
Los Angeles-based investment firm Manhattan West Real Estate has acquired Talbert-Mount Washington Industrial Park, a two-building, multi-tenant complex in Fountain Valley, CA. Manhattan West purchased the 3-acre, 60,000-square-foot asset from DDK Investments for $16.5 million.
“This asset’s diversified tenant mix from a use perspective, and staggered lease expirations provide us with the opportunity to capitalize on a mark-to-market investment strategy in supply-constrained Orange County,” said Manhattan West’s Grant Fisher.
Talbert-Mount Washington Industrial Park is fully occupied by six tenants, including OC Art & Home, Harwood Galleria, The Drawer Shop and RADCO. Both freestanding building are two stories, and feature large outdoor storage yards, 18’ to 23’ clear heights, fire protection, oversized ground-level doors and HVAC.
Manhattan West was represented by Joseph Harmon and Charles Johnson of DAUM Commercial Real Estate Services and the seller, who has owned the property for several decades, was represented by Devin Ray and Mike Barreiro, also with DAUM.
DAUM Commercial Real Estate Services has arranged the sale of an eight-acre parcel, including two industrial buildings, located at 4510 Azusa Canyon Road in Irwindale. Rexford Industrial acquired the asset from DS Services of America, a water bottling and distribution company, for $40 million. The sale-leaseback deal includes a five-year lease with an option to extend.
Dennis Sandoval, Kevin Sandoval and Bryan Sandoval of DAUM represented the seller, Dennis Sandoval also represented the buyer in the transaction.
Constructed in 1950, the property features a 52,780-square-foot Class C industrial building and a 14,728-square-foot building. The buildings offer 24-foot clear heights, ample parking and a fully fenced and secured lot.