LOS ANGELES—Nearon Enterprises has purchased a 115,538-square-foot industrial warehouse facility in Ventura County from Hamann Companies. The property’s tenant, Benchmark Electronics, had an expiring lease at the time of the sale, however, due to the tight supply, the sales team and the buyer were confident that they would renew—and they were right. After the property sale closed, Benchmark renewed its lease. The sale and lease transaction have a combined value of $19 million.

“The ownership group didn’t really want to take the asset to market, so we went to a few select possible investors,” Grant Fulkerson, a principal at Lee & Associates LA North/Ventura office, tells GlobeSt.com. “We had a lot of confidence that the existing tenant, whose lease expired early this year, would want to renew. While on the front end, this didn’t look like a leased investment, we were confidant that we were going to get there. That is what we pitched, and ultimately, that is what we delivered.” Fulkerson represented the buyer, seller and tenant in the transaction along with his Lee & Associates colleague, principal Mike Tingus.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.