THE KLABIN COMPANY BROKERS PURCHASE OF INDUSTRIAL INVESTMENT COMPLEX IN CARSON
Matt Stringfellow, SIOR, and Tyler Rollema, SIOR, represent the buyer, Dunbar Real Estate Investment Management in $10.2 million transaction for two concrete tilt-up buildings featuring six units totaling 41,880 square feet.
(August 12, 2024 – TORRANCE, CALIF.) – The Klabin Company/CORFAC International today announced it negotiated the $10.2 million purchase of an industrial investment complex at 16925-16927 Main Street in Carson, California. The transaction is for two concrete tilt-up buildings featuring units totaling 41,880 square feet is located on almost two acres of land in a prime South Bay industrial market.
The Klabin Company’s Matt Stringfellow, SIOR, and Tyler Rollema, SIOR, represented the buyer, Dunbar Real Estate Investment Management, in the transaction. Established in 2011, Dunbar capitalizes on market opportunities and offers bespoke solutions for distressed commercial real estate properties. The company prioritizes long-term value creation through strategic investments in high-quality industrial, multifamily, and office assets requiring repositioning efforts through additional capital and/or leasing efforts. The seller was the MacLeaod Family Trust, represented by Mark and Patrick Granger of The Granger Company.
The property is extremely well located in the heart of Los Angeles’ South Bay submarket, a major industrial hub with urban convenience. Just a few blocks from both the 91 and 110 freeways and one exit from the 405 freeway, this location provides seamless connectivity to the major ports and LAX.
“The South Bay is widely considered one of the best industrial markets in the United States,” said Stringfellow. “The location of the property, within this dynamic and supply constrained submarket, is extremely favorable for the prospect of long-term value appreciation.”
Built in 1992, the six units range from 6,000 – 7,000 square feet—with one combined 14,000-square-foot unit—and has unique and highly desirable features including dock-high loading on four of the five units which is very rare in the marketplace for units in this size range.
Due to barriers of entry such as entitlement risk and cost of land, construction, and capital, developers aren’t building this type of product anymore which makes it highly valuable and sought after by both users and investors.
“Dunbar was attracted to this excellent opportunity to acquire this property well below replacement cost and with the opportunity to increase current rents to market rate,” said Stringfellow. “Through Dunbar’s professional management, we believe we can successfully implement our business plan and generate attractive risk-adjusted returns.”
About The Klabin Company/CORFAC International
Now in its seventh decade of operation, The Klabin Company/CORFAC International is ranked among the top commercial real estate companies based in Los Angeles. Built on the principles of an open and enduring culture, the company has maintained its independence as a privately-owned business since 1961. The Klabin Company emphasizes how the sharing of information, experience and relationships among all colleagues works to everyone’s advantage. The firm is dedicated to the needs of its clients, and through this commitment, it has remained successful for years. The Klabin Company is affiliated with CORFAC International. For more information go to www.Klabin.com.
About CORFAC International
CORFAC International is a global network comprising private held entrepreneurial commercial real estate firms with expertise in office, industrial and retail brokerage, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 75 offices in the U.S., Canada and international markets, including Australia, France, Germany, Ireland, Italy, Japan, Malaysia, Mexico, Netherlands, Romania, Russia, Singapore, South Korea, Switzerland, Thailand and United Kingdom. CORFAC offices close an average of 10,000 lease and sales transactions valued in excess of $9.0 billion annually, totaling 500 million square feet closed and 65 million square feet managed worldwide. Contact Jonathan Salk, CORFAC Executive Director, at (224) 257-4400 or jonathan@corfac.com or visit www.corfac.com.
Klabin, represented Buyer, Dunbar Real Estate Investment Management in the negotiation of an $10.2 million purchase of an industrial investment complex at 16925-16927 Main Street in Carson, California.