DAUM Commercial Real Estate Services, a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales, and property management, has completed the sale of a 40,129 industrial property to Privy to be used as the apparel wholesaler’s expanded headquarters.

Located at 2640 E. 26th St. in Vernon, the building was sold for a total consideration of $13,750,000. Anthony Bergeman, SIOR, Michael Chase and Krishna Shegran of DAUM Commercial’s Capital Markets office in Costa Mesa represented the seller, a private investment company. Moon Lim and Ryan Judd of DAUM’S Los Angeles office participated in the transaction as well. Privy was represented by Steve Kim of One Commercial.

“Despite a drop in sales volume late last year, this deal came together in a very resilient industrial market just south of Downtown Los Angeles. The property is strategically located less than two miles from the 10 freeway with easy access to the ports and LAX Airport,” Bergeman said.

According to DAUM Research, the Los Angeles industrial market saw the median sales price per square foot dip by about 15 percent to $300.86 despite the amount of sales decreasing by 43 percent down to $852 million in Q4. In a strong signal for the market, 2640 E. 26th St. traded at $342.65 per square foot.

Bergeman said the seller had acquired the property in 2020 through a 1031 exchange and had been leasing it through DAUM since that time.

About DAUM Commercial
DAUM Commercial Real Estate Services is a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales and property management. Founded in 1904, DAUM focuses on longstanding client relationships and draws upon its century-long track record to deliver steadfast insights and proven results to clients across the U.S. DAUM has 11 offices throughout Southern California and Arizona. More information is available at www.daumcommercial.com.