The industrial park is currently occupied by Cosmetic Specialties, Workrite Uniform and Superior Technical. The seven-building industrial park sits on eight acres and is centrally located in the City of Oxnard at 520-580 E. Third St.
The property sold with a capitalization rate of roughly 9%. The price per square foot is estimated to be around $38. At the time of sale there were 19,000 vacant sf. The new owner plans to do some renovations to the property.
Mike Tharp and Steve Doll from NAI Capital Commercial represented both Marcus/Adams Industrial Investments and the seller, Royalty Mortgage Fund, based in Los Angeles. Marcus/Adams invests, owns and operates industrial properties in Ventura and Los Angeles Counties.
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