The industrial facility, which encompasses 25,362 sf, is located at 1644 W. 240th St. The sole occupant of the building, which is 100% leased, is St. John Pet Care Products. The buyer acquired the facility as a leased investment.
The seller, John Nelson of Redondo Beach, was represented by a Grubb & Ellis team of John Lasiter and Frank Hillebrand. Both brokers are based in the South Bay office.
The buyer, a private investment organization based in Desert Springs known as BW Group, was represented in-house. The countywide vacancy factor in the industrial market is a mere 4%, most brokerage reports say, and it's even lower in many submarkets.
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