Prudential Real Estate Investors has sold a 149,654 square foot industrial property at 250 West Apra Street in Compton, CA to a private buyer for an undisclosed sum. NAI Capital brokers Warren Noack, Kimberly Noack and Travis Noack represented the buyer in the transaction while Cushman & Wakefield brokers Rooney Daschbach, Steve Bohannon and Rusty Smith represented the seller.
"With an increasingly low level of inventory available for sale in the South Bay market, finding a purchase opportunity in that area was a challenge. We successfully transitioned what started out as a lease opportunity into a purchase opportunity for our client," noted Travis Noack with NAI Capital. "The transaction also involved a complicated lot line adjustment process that was already underway by the Seller. The lot line adjustment was initiated to enhance the land configuration of the subject property as well as improve the loading areas of the Seller's surrounding properties. The deal had a lot of moving parts but with patience, persistence and follow through we were able to facilitate a successful close."
Originally built in 1979 with extensive upgrades in 2000, the single story building is in the Dominguez Hills Industrial Park. The buyer has experienced a recent expansion, and sought an industrial property in this market to accommodate its growth, according to a GlobeSt.com article. Due to limited industrial supply in the Compton market, the buyer first entered into a lease agreement with the seller that eventually led to the purchase of the property.
For more news and information visit Blumberg Capital Partners.
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