THE KLABIN COMPANY COMPLETES INDUSTRIAL DOUBLE PLAY WITH SALE OF TWO SOUTH BAY BUILDINGS
The separate transactions, with a combined value of more than $13 million, are executed for buildings set back-to-back on Vermont Avenue in red-hot South Bay industrial market.
April 28, 2021 – TORRANCE, CALIF.) – With the excitement of a new baseball season in the air, The Klabin Company/CORFAC International has completed a double play in the South Bay. The firm today announced it negotiated the sale of two industrial buildings, with a combined value of more than $13 million, in the red-hot South Bay market.
In the first transaction, The Klabin Company’s David A. Prior, SIOR, and Todd N. Taugner, SIOR, represented Shubin Nadal Realty Investors in the $7.285 million sale of its 30,100-square-foot industrial building at 19120 Vermont Avenue in the Gardena area of unincorporated L.A. The fully refurbished classic brick building, situated on more than 1.5 acres, features more than 2,000 square feet of new offices. It was sold to Olivia Care, Inc., a manufacturer of high-quality soaps and body products distributed around the world. Olivia Care was represented by Matt Stringfellow, SIOR, and Tyler Rollema of The Klabin Company.
Prior and Taugner also represented Shubin Nadal Realty Investors in the $6 million sale of 19122 Vermont Avenue, a 24,080-square-foot industrial building located adjacent to the Olivia Care facility. The buyer is Praxis Musical Instruments, Inc., a company that designs, manufactures and distributes guitars and basses to global customers. Praxis has been a tenant in the building for approximately two years and exercised its option to purchase. Praxis was represented by Jae Yoo of Cushman & Wakefield.
“These two sales were unique purchase opportunities for Olivia Care and Praxis as they allow both companies to own and operate in their respective buildings,” said Prior. “The demand and level of interest in these buildings was extremely high and the pricing reflected the strength of the market and availability of attractive financing.”
About The Klabin Company/CORFAC International
Celebrating its 60th Anniversary in 2021, 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 for decades. The Klabin Company emphasizes how the sharing of information, experiences and relationships with all of its 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.
The Klabin Company completes a double play in the South Bay market with a combined value of more than $13 million.