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Mid-Counties Industrial Supply Hits Record Lows

SANTA FE SPRINGS, CA—American Realty Advisors buys a 174,000-square-foot industrial building in the supply constrained mid-counties market, where vacancies are at the lowest levels in six years.

By Kelsi Maree Borland | Updated on January 05, 2015

SANTA FE SPRINGS, CA—American Realty Advisors has purchased a 174,342-square-foot industrial property from Lincoln for an undisclosed price. The purchase of this property, which is located at 15050-15066 Shoemaker Avenue in Santa Fe Springs, CA, illustrates the very high demand for industrial properties in the mid-counties market, which is experiencing the lowest vacancy rates in six years.

“There was strong interest for this property,” Barbara Emmons, vice chairman at CBRE, tells GlobeSt.com. “It was a functional class-A multi-tenant building in an infill area right off the 5 freeway. It also had under market rents so strong interest.” Emmons represented the buyer and the seller in the transaction along with her CBRE colleagues vice chairman Darla Longo, VP Rebecca Perlmutter Finkel and SVP Laird Perkins. The property is 100% occupied by JB Hunt Transport, a Fortune 500 company, Spartech, Sysonic, and Pacific Diving Academy.  These tenants have an average lease roll of 2.75 years. Although the sales price was undisclosed, Emmons explains, “We got the price we expected but it was aggressive pricing. The cap rate was below 5% due to the below market rents.”

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