DAUM COMMERCIAL HANDLES OXNARD LAND ACQUISITION FOR SPEC INDUSTRIAL BUILDINGApr 17, 2017
DAUM Commercial Real Estate Services, recently directed the acquisition of a 3.84 acre land parcel within the McInnes Ranch Business Park in Oxnard, California. The buyer is designing a speculative warehouse distribution building to be developed at the site, according to Mitch Conlee, an Executive Vice President at DAUM’s Ventura County office.
Conlee represented the buyer, E&E Trust, as well as the seller, a Southern California developer, in this transaction.
“The ability to market this fantastic location allowed me to provide the seller with immediate upside based on demand in the market, while bringing E&E Trust a valuable development opportunity,” Conlee explained. “This parcel is five minutes from the 101 Freeway in a market with low vacancy and very little state-of-the-art competition. The new owner plans to develop a 52,500 square-foot distribution building with 30-foot clear height in the warehouse, dock-high loading, as well as large aprons and truck courts, to accommodate the increasing traffic driven by e-commerce. The planned development will be in a strong position to meet ongoing demand for new product.”
Conlee has completed several industrial transactions in McInnes Ranch Business Park and the surrounding areas, and drew upon his deep knowledge of the market to direct this acquisition.
The land parcel is located at 500 North Elevar Street, on the corner of Elevar Street and Camino Del Sol in Oxnard.
DAUM Commercial Real Estate Services provides a full array of commercial real estate services including brokerage, corporate services, consulting, leasing, sale and property management. Founded in 1904, DAUM is California’s oldest and most experienced commercial real estate brokerage company. DAUM has ten offices throughout Southern California and Arizona. More information is available at www.daumcommercial.com.